Oil Prices are steday - finally: sanity breaks out in the markets!
A fter inexplicable fluctuations, the oil price has reached where it should be – at last. Some analysts, unfortunately, tend to attribute it to the onset of Hurricane Delta, a category-3 storm. The reliably-modelled data shows that the storm appears to die out as it reaches the mainland. In this context, plant closures that could potentially affect the supply chain are a bit hyped up. There are many other vital factors at play that often overlooked, though: the US crude oil inventories are on decline for weeks and they remain consistent; there is evidence that the supply will not be interrupted, even in the region that is not usually the case; productions are picking up and so are the vehicular movements. Of course, the crisis in the airline industry is far from over; the optimism that that there will be some form of breakthrough in dealing with the pandemic is growing as so many brilliant minds are tirelessly working on it, some of them even not expecting nothing in return as