🤔 Crude Oil Price Fluctuates as if it followed the path of the Sun across the sky!
The oil price is falling and the pattern of fall on a given day remains puzzling, though. In the past few days it was as if the crude oil price followed the apparent movement of the Sun across the sky! In the early hours of the day when the markets in the Asia open, the price picks up only to fall again as the day wears on. They mystery deepens when the investors’ screens go green in the very region that is most affected by the Delta variant of the Coronavirus nowadays. Of course, they turn red too, when the markets in the rest of the world open. In short, the price fluctuations just defy the logic: the uncertainties in the markets are many – and rising; the viability of US stimulus package is widely debated among the decision makers; the Chinese economy has hit the buffers; there are renewed fear of Middle East plunging into turmoil, yet again; the Delta variant is spreading fast across the globe and lockdowns are imminent in many parts of the world. The main worry for the