COVID Fears Cause Oil To Fall Back After A Brief Rally

Oil spiked on a larger than expected inventory draw this week, but fears of a second wave of COVID have caused crude prices to retreatFor Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines the three biggest mistakes made by traders today. Make sure you become a member to read these reports and many more.Friday, August 7th, 2020Oil prices rallied to multi-month highs mid-week on stronger EIA data. But the market narrative…