Why Oil Prices Continue To Fall

U.S. West Texas Intermediate crude oil futures fell nearly 5% early on Friday after President Donald Trump tested positive for COVID-19 and negotiators failed to agree on a U.S. fiscal stimulus package designed to save the economy by speeding along the recovery. Meanwhile, new data from OPEC showed that rising global output threatens to destroy the weak price recovery. Trump Tests Positive for COVID-19 The catalyst for the move is the news that President Trump had contracted COVID-19. The news triggered a volatile move in the financial markets…