What's up with oil?

You may have seen the big plunge in oil prices as Russia and Saudi Arabia have tried to engineer the collapse of the US fracking industry. But the bigger picture is that oil prices have been in pretty steady decline for the past couple of months. 
Will this trend reverse, now that some read states have announced their preference for business over citizen lives? Confirmed COVID-19 cases in the US hit a new peak yesterday; will there be a new peak in deaths in the next week? Was yesterday a peak, or a false summit?
 

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