Oil backslides to $63
Crude oil traders are shocked as the commodity’s bullishness is cut short suddenly.
May 20, 2021
Crude oil investors are in a sour mood following the commodity’s downturn by 1.8% at $63 per barrel.
The decline in the commodity’s value is said to be triggered by concerns about imminent inflation in the United States of America as well as comments by Iran’s president, Hassan Rouhani, concerning the removal of sanctions against crude oil in Iran.
Crude oil financial experts have predicted that the commodity’s price is going to become more bearish than it currently is and have advised that investors stay on the fence, not going short or long till some level of stability is restored.
