7:01 AM · 10 July 2020

Sell-off on OIL.WTI

Oil prices are moving down for a second day on concerning COVID data both from the US and Asia. The US saw number of new daily cases rise above 60k for second straight day and there’s also a spike in cases in Tokyo and Australia. Investors are afraid that this will have some restrictions reimposed and that would affect oil demand. OIL.WTI was consolidating just above $40 after an impressive rally but is now moving clearly lower.

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