Relationship Between the U.S. Presidential Election and Oil Prices
With COVID-19 still raging the whole world, fatal negatives have thrust global aviation and tourism on the edge of a precipice, but lose strengths in the face of international oil prices which keep climbing against the trend of economics.
Will Oil Price Reach US$190/Barrel?
JP Morgan recently predicted that Brent Crude will hit US$190 per barrel by 2025, noting that crude oil is entering a bullish period as dropped production will be hard to resume.
Crude Tests the 40 Level Again, Oil Prices Rise This Week
Recently, oil prices have repeatedly tested the 40 mark and encountered a resistance at 41.34. From a technical perspective, it is expected that oil prices this week will continue to rise.
US Oil Price May Rally After March
Since its last peak of US$63.27/ barrel on January 6th, US oil price has been down 68% so far, breaking the record in losing almost 50% in March.
Crude Oil Price Sinks 4.5% as Bullish Conviction Ebbs
Commodity traders sent oil prices plunging on Thursday as uninspiring crude inventory data reignited oversupply concerns, dealing the latest blow to bullish sentiment.
Crude Oil Prices Plunge After Trump Tweet Bashes OPEC Supply Cuts
President Trump took his latest jab at OPEC and the oil cartel's supply cuts which sent crude plunging nearly 1 percent as the US President stated the importance of OPEC increasing the flow of oil.
