The oil price is continuing its slow dance around the key threshold of $50, with WTI unable to build any solid positive momentum. The spread of the coronavirus is leaving open many questions about the real impact of this epidemic sickness on the economy over the next few months. Investors are extremely cautious before taking any long position on the barrel, as it could be one of the worst affected assets if the virus spreads further. Oil’s weakness was confirmed last week with the price unable to rebound despite the return of a risk on attitude.
