WHATS MOVING OIL THIS WEEK?
Oil bears went on a rampage last week after Iranian President Hassan Rouhani revealed the world’s most powerful economy was “ready” to lift sanctions on the country’s black fossil supplies, triggering a spiral fall on the energy derivative prices in the latter part of last week with rising COVID-19 caseloads in India, oil traders seem to cast their bullish bets over positive economic macros coming from China and the United States.
also we have huge oil demand in parts of Europe this is actually a bullish news for OIL
Oil bears went on a rampage last week after Iranian President Hassan Rouhani revealed the world’s most powerful economy was “ready” to lift sanctions on the country’s black fossil supplies, triggering a spiral fall on the energy derivative prices in the latter part of last week with rising COVID-19 caseloads in India, oil traders seem to cast their bullish bets over positive economic macros coming from China and the United States.
also we have huge oil demand in parts of Europe this is actually a bullish news for OIL
