Oil dropping hard to open the week's trade

Author: Eamonn Sheridan | Category: News

US Sunday evening oil markets are open, CL down about a dollar 

There is plenty of bad news about on the surge in coronavirus cases in Europe - and there is little doubt that further restrictions will be implemented very soon which will once again cut into economic activity and hence demand for oil.

From Saturday Europe numbers:
The US is racking up new cases also, over 83K for the second day in a row reported.  The 7 day MA of new cases hit its highest ever, surpassing its previous high set in June. 

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