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Earlier this month, oil prices returned to pre-pandemic levels. The price is hovering around $60 per barrel, vis-à-vis $20 per barrel in April, 2020. Brent crude Futures has risen by more than 50% since October, 2020. Will we have to keep paying more? It depends on OPEC+ meeting scheduled for next month. ['+' refers to Russia] Saudi Arabia 'doesn't want to increase supply'. Russia 'wants to proceed with supply increase'. An 'artificial shortage' is draining up the prices. 1. Saudi Arabia cutting production: In Jan, 2021 Riyadh holds back 1Million barrels. 2. Winter storm in Texas: Texas is an oil state in US. This storm has freeze 40% of America's production. Oil producers losing money Biggest oil companies bleeding with losses. Oil exporters are still hurting. Why the price jump is not good enough? Oil prices expected to remain below $50/barrel through 2022 per World Bank estimate. Gulf countries reel under the pandemic shock. - Average Budget d

1. The new liquid gold Water has been added to the Futures market. H2O is being traded along with oil, Gold. Water hits Wall Street tickers. US firm launches contracts for California Spot water. 2. Water, now a commodity The trade began on Dec 7, 2020 California Spot water market is worth $1.1 billion. 3. Will you bet on water prices? Water prices in California has doubled in one year. 2/3 of the world may face water shortage by 2025. Full story: Water is the new oil or a new gold. Because water has joined both oil and gold on the Wall Street. It is now officially being traded. Why water? Climate change: water shortage. The price of water has gone up across the world. In California it has doubled in one year. Recent droughts, wildfires, have made matters worse. An American company, called CME group has added water to the Futures Market. Futures market? An auction market, where you buy and sell today for delivery in the future. The price is set today,