Oil plummets below $65
Oil’s bullishness has been cut short due to a dip in the commodity’s price.
Oil has experienced a significant decline in its price range due to the intensity of COVID-19 crisis in certain parts of the world.
The unstable and unpredictable demand for oil in Asia, United States of America and certain parts of Europe, caused the price of crude oil (WTI) to drop to $65 per barrel.
There is hope that if oil’s demand regains steadiness, the commodity will be bullish once again.