Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “The novel coronavirus (COVID-19) pandemic has reduced the demand for oil worldwide as widespread lockdowns are imposed to curb the spread of the virus. Analysts are saying that it’s short-term volatility.
The prices for September and onward futures remain above $30, signaling that the oil market could rebound strongly, DataTrek Research co-founder Nicholas Colas noted”….
Read the full article here on Yahoo Finance!