The inclination that Global oil prices will be affected during this pandemic period was exceptionally high.
In fact, oil prices have been profoundly affected following one strong year. They got squashed when Covid-19 cut interest for energy around the world — but luckily, they are coming back.
Oil prices have been on the rise for quite a long time because of hopefulness that Covid immunizations will release interest while producers try not to flood the market with supply.
With Covid-19 cases currently declining in some countries, the oil market is required to bob back. There is a hint of something better over the horizon for the return of global oil prices, as signs of demand recovery is high.