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05.05.2020 BRENT OIL Daily Analysis

Today Brent oil is trading on 29.05usd and it went up with a straight 6.88percent daily gain. What led to the gains of Brent oil today is that a lot of

Yazar: editor_1

Yayınlanma: 5 Mayıs 2020 16:51

Güncellenme: 12 Kasım 2024 03:30

05.05.2020 BRENT OIL Daily Analysis

BRENT OIL 29.05 +1.85 ,6.88% Today Brent oil is trading on 29.05usd and it went up with a straight 6.88percent daily gain. What led to the gains of Brent oil today is that a lot of governments announced that they are easing the lockdown restrictions and for the oil market, this means that there is going to be an awakening of the oil demand once again as businesses start to reopen especially in California and New York. To add to the countries that have eased down the lockdowns Spain, Italy, Nigeria, India, and Malaysia are also included. The supply cuts of oil by the OPEC members led to the gains for oil today also.
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