Are Oil Prices About To Drop?

U.S. West Texas Intermediate crude oil futures are in trouble at the end of the week amid concerns over rising new coronavirus cases in the United States and China. Furthermore, there are renewed worries over a possible increase in U.S. crude oil production now that prices have recovered even though crude stockpiles are sitting at a record high. The tone is turning bearish as investors continue to react to the surge in coronavirus cases although most traders don’t believe a second-wave of infections will be as damaging to the economy as the…