COVID CASES TAPPERING OFF IN THE U.S. Tuesday, August 11, 2020
Oil prices strengthened again on hopes of a slowdown in coronavirus transmission in the United States. “The fact that the COVID cases seem to be tapering off in the U.S. is making people a little more optimistic about getting it under control and demand recovering toward the end of the year,” said Michael Lynch, president of Strategic Energy & Economic Research. Also, Russia said it was moving forward with a coronavirus vaccine despite the lack of rigorous trials. The health impact is unclear, but any positive vaccine news has tended to spark a bullish reaction from the market.