Crude Oil Costs Spike Decrease as Volatility Fuels Danger Aversion
CRUDE OIL PRICES PLUNGE TO CRITICAL SUPPORT ZONE AS MARKET VOLATILITY SURGES DUE TO RETURNING COVID-19 LOCKDOWNS
- Crude oil price motion collapses over 5% amid a pointy uptick in volatility and threat aversion
- Oil costs might fall additional if a close-by technical assist degree fails to curb aggressive promoting
- The commodity might succumb to bearish undercurrents as COVID-19 lockdowns stunt demand
The value of crude oil slid sharply decrease on Wednesday alongside different threat belongings like major stock indices. Markets seem like a sea of purple as dealer sentiment deteriorates broadly whereas coronavirus lockdowns mount throughout Europe. This has led to a surging measures of volatility and immense promoting strain throughout crude oil costs, which largely appears to observe worsening prospects for financial progress and corresponding slide in inflation expectations.