Congrats to those who exited at 5.80. Happy Raya to everyone

Oil prices rise, on pace for more than 25% gain this week

https://www.cnbc.com/2020/05/07/oil-news-crude-wti-brent-prices-today.html
By Pippa Stevens
7 May 2020, 9.19 am EDT

Oil jumped on Thursday and was on track for one of its best weeks in history as a number of bullish factors supported prices, including U.S. companies cutting production, Saudi Arabia raising its official oil selling price and gasoline demand improving as economies around the world reopen.

“Nascent signs of rebounding gasoline demand in the U.S. and a rapid curtailment of oil production that has seen U.S. producers cut over 1 million barrels per day of output in a matter of weeks has enabled oil prices to recover,” Again Capital’s John Kilduff told CNBC. “Volatility will remain the watchword, but there is an increasing sense that the worst is behind the industry, at this point.”

Hi, oil prices are poised for a rally according to latest news.

https://oilprice.com/Energy/Oil-Prices/This-Could-Be-The-Beginning-Of-A-Tremendous-Oil-Rally.html
The global economic recovery has begun, and excess shale production will be reduced is actually changing the market’s perception even now. Crude prices have rallied dramatically in the last few days.

https://oilprice.com/Energy/Energy-General/Supply-Destruction-Could-Send-Oil-To-70.html

Guys, BNM has just cut rates by 50 basis points. Outlook has became more cloudy and risks have increased. This means we are more in the dark now about the pandemic. Gloves companies will benefit more as consumers will view this as affirmation and confirmation of a worsened outlook.