After the TumultOil saw the most turbulent period in the market’s history during the first half of 2020: crashing during the brutal OPEC+ price war that erupted in March, sinking further as coronavirus coursed through the world, and then staging a cautious recovery.
In the U.S., traders paid to give their crude away when futures plunged to minus $40 a barrel in April, then watched the market swing to plus-$40 two months later.The second half will hinge on whether the post-lockdown revival in fuel consumption persists or gets derailed by a resurgence in infections.
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