In this video I review current oil prices including USO US OIL and WTI Brent Crude Oil. We have seen the price grinding sideways since the beginning of June however demand beginning to drop after the summer driving season/vacation spike in August
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Oil Price Crash 2020
There is still a possibility of a significant oil price correction. Note we could get messy sideways action on the price of oil for a few weeks or a cleaner deep correction all the way back to $20 a barrel or even lower potentially
Oil Fundamental Analysis
We know OPEC nations agreed a supply cut and although late in coming this has helped the oil price stabilise in May 2020. Time will tell whether we continue upwards. The issue fundamentally will be a return in the oil demand. Will supply open up again and help stabilise oil prices.
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