Crude oil price closed over 2% in the red despite posting the 3-week high above the $40 mark. Investors are worried that the surge in the number of new coronavirus cases will slow down the economic recovery. Fundamental analysis: Infection cases on the rise again Crude oil price closed this week at $38.17, down 2.28%. This is despite prices trading above the $40 handle in the mid-week on hopes of a V-shaped economic recovery. “Markets have got ahead of themselves and with the coronavirus pandemic still doing the rounds, there remains plenty of volatility on the horizon,” PVM analysts said.
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