It's an important time for oil traders
The oil chart tells the story right now. It's a notoriously volatile asset in a very tight range that grew increasingly tight last week.
It just perked up by 50 cents to bring today's gain to $1.33. It's not a breakout but it's moving towards the top of the range, which tops at $62.57.
On the news front, eyes are on a potential Iran deal but the world powers are running out of time ahead of an election there.
Covid remains a big issue with cases in India spiking at the moment. At the same time, Indian oil demand is almost back to pre-covid levels, so that's tough to square.
