The never-Ending Bull Run?

Introduction.

Oil prices have not only recovered, but the relaxation of lockdown measures have caused prices to rise from $61 per barrel in march to $71 per barrel in August 2021. Much of the current rally was expected and market pricing reflected the impact of deferred demand during the COVID-19 pandemic. The current rally is driven by post-COVID optimism, a resurgence in demand for oil and related products and a gradual reopening of economies amidst higher vaccine rates.

So far, there appears to be no correlation with the rates and types of reopening in…