29.04.2020 Brent Oil Daily Analysis

29.04.2020 Brent Oil Daily Analysis

Brent Oil 23.15usd  +0.41 +1.63%   Today investors took heart from easing coronavirus lockdown in some parts of the world and this boosted the prices of oil today and Brent oil is trading on 23.15usd. The positive news around potential treatments for the Covid-19 as well as progress by pharmaceutical companies in developing a vaccine has also boosted the attitude of the investors recently. The oil prices are going high as many countries are working on easing the restrictions this includes the United States and right now Europe and Australia are gradually easing the restrictions, New Zealand also allowed some of the businesses to reopen and Moreover, investors are growing confident the infection may be peaking as parts of the United States, Europe, and Australia gradually ease restrictions while New Zealand this week allowed some businesses to re-open.