Oil price recovers fast, defying the doom and gloom

[hemanthaa@mail.com + 64]

The price of crude oil made a swif recovery on Monday, perhaps due to two major factors: first of all, the Omicron variant of the Coronavirus is not that dangersous after all, according to the medics who dealt with it in South Africa; then the optimism that we saw at the weekend over a possible breakthrough during the talks over reviving the JCPOA, 2015 Iranian nuclear deal, evaporated faster than an oil drop in the open, as Britain and Israel reiterated the need of stopping Iran from getting nuclear weapons using oil money.

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[notsonice + 1,255]

The price of crude oil made a swif recovery on Monday,?????? WTI Oil peaked at 84 with change 3 weeks ago....today it is at $69 with change up a buck since Friday. Up a buck is not a recovery of the $10 drop on Friday at all. Do you get excited over dead cat bounces all the time?