Oil Claws Higher, Gold Eyes Fed – Investing.com

Oil Claws Higher, Gold Eyes Fed – Investing.com

Oil prices are a little flat, in line with the broader markets, after enjoying a bumper recovery last week. After falling heavily a week ago, made strong gains over the following days to move back above $70, and close out the week higher than it opened. Despite a little softness earlier in the session, we're now back around those levels once again.

Risk appetite has clearly massively improved over the last week and just like other risk assets, oil is taking a breather ahead of an intense few days. The second-quarter recovery has got pulses racing at the prospect of what's to come. The next wave of COVID is a downside risk to that but not to the extent that the previous surges have. Optimism is still strong and for good reason.

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