Fuel Flash – September 2021
Oil started August above $70/barrel but fell below the mark just a few days into the month. By the 9th of the month, oil fell by 4% to its lowest point since May, mainly due to China’s surge in COVID cases from the Delta variant, imports being down, and a strong US dollar. The following graph shows the daily price movements over the past three months: Oil prices tried to rally over the next week, but it was short lived