13 days ago • Posted by Martin Boujol
Oil's rally falters, but this should be temporary according to BP
Oil extended its decline in Asian trading on Monday, after having hit the $70 a barrel or the time since October 2018. Although prices have eased, with New York futures dropping below $69, there is great confidence that this slow down is only profit taking of some actors, and that the demand will keep rising as vaccination rates accelerates, along with an increase global mobility.
Source: Nymex, Yahoo Finance