Oil, gas and mining

UPDATE Oil Reaches 2-month High! | Oil Price Analysis May 2020

Oil prices continue to climb after the dramatic fall we witnessed in the wake of the coronavirus pandemic. So much so that the WTI oil price chart analysis has marked a 2-month high. And the oil price 2020 is recovering rather quickly, too. Just this week we saw the oil chart analysis for June futures gain first 8.1% on Monday, after which it increased an additional 2.1% on Tuesday.

The July oil price chart, on the other hand, which is the most actively traded of the two contracts, saw slightly lesser gains. Namely, this oil chart saw an increase of 7% on Monday and 1% this Tuesday. Hence, the oil price settled at $31.96 per barrel, whereas the June oil price analysis rested at the mark of $32.50.

Watch our full oil analysis to see where this bullish tendency may lead us in the weeks to come and how the oil price today will continue to develop.

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