Oil has risen again

Following its bearishness from the previous day, oil has many in awe as it picked back up at the speed of light.

A photo of oil and a bull
Oil

The mind of many investors has been put at rest because oil’s value has jumped back up after it nosedived yesterday due to unstable demand in certain parts of the world.

Brent crude rose by 0.9% and is trading at $70 per barrel, a price range it has not hit since March.

Expert traders of oil have attributed the quick revival of oil’s value to the gradual reopening of the aviation industry within the United States of America and Europe since the COVID-19 pandemic lockdown in 2020.

In spite of the high rate of the spread of the COVID-19 virus in places like Asia, commodity experts are saying that there is a possibility that oil is going to stay bullish for months and its price will continue to rally higher.

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