How One COVID-19 Case Dominates The Market

Oil markets recovered on Monday morning after closing lower last Friday. The discharge of the U.S. President from hospital generated a sort of relief in the markets. The reversal on Monday followed a brief period of uncertainty about the US President’s health after he and his wife tested positive for COVID-19 last Thursday, strengthening bearish sentiment in crude markets. As a result, Brent closed at $39.27, down by 7.40% w/w while WTI closed at $37.05, down by 7.95% w/w, last Friday. Money managers reduced by their net…