23 days ago • Posted by Martin Boujol
Oil futures are stuck in the $60 range
The oil barrel climbed to $60 as many were afraid of a supply disruption. The rally however faltered in March, as there are now concerns about the resurgence of the virus. The OPEC+ also stated that they would augment production, putting another weight on the price. Traders are taking a "wait and see" approach, which explains the price moving sideways, and not up nor down.
Source: Bloomberg, Yahoo Finance