Oil prices show signs of recovery despite strict lockdowns

 

oil price tuesday

The oil price shows signs of recovery despite the obvious impact on it due to new lockdowns in Europe.

The lockdown are relatively strict and there are reports of new variants of the Coronavirus; whether it’s a milder form of the same virus remains to be seen.

On a positive note, the Asian demand for oil continues unabated, apart from insignificant fluctuations from time to time.

Hopes of both vaccines and the evolution of the virus for a milder form, perhaps, will keep the oil price in the present range, without plunging into the levels that we saw at the beginning of the year.

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