Oil prices have continued to fall this week as rumors of President Biden tapping into U.S. oil reserves combined with a resurgence in covid cases in Europe created fresh bearish sentiment. Resurgent COVID fears triggered by a fresh surge in European cases weighed on oil prices this week, dragging the Brent benchmark towards $78 per barrel, down almost $3 per barrel on Friday alone.
With both Brent and WTI set for a fourth weekly decline, it seems that the Biden Administration’s plan to bring outright prices lower has largely worked. There…Biden's Bluff And Covid Cases Drag Oil Prices Down
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