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.
The post Crude oil price falls at $40 on the surge in new coronavirus cases appeared first on Invezz.