Crude oil surged more than 12% off the July lows with a rebound off technical support in focus heading into August. The levels that matter on the WTI weekly chart.
Crude Oil Price: Implications of Rising COVID-19 Cases in Japan and India
Crude oil price is wavering around $61 after declining over the past two sessions.
India has recorded the highest daily tally that any country has had; and its highest daily deaths.
Tokyo and Osaka will be on a week-long state of emergency from 25th April.
Crude oil price catching a breather after being on a decline for two consecutive sessions. The fall is a reaction to the rising COVID-19 cases. India, which is the third-largest oil importer in the world, is recording overwhelming numbers of coronavirus infections. WTI futures are up by 0.46% at 61.34. At the same time, Brent futures are down by 0.18% at 65.40.