Pullback day for the market fresh off all time highs, traders used today to collect some profits, with major indices slumping. $ES roll flat while $NQ trades slightly in the green after Amazon launch pharmacy business
DUBAI/LONDON/MOSCOW – OPEC and its allies see oil inventories declining further in 2021 should producers extend supply curbs for three months or more, a confidential document seen by Reuters shows, supporting the case for a tighter policy on crude …
DUBAI/MOSCOW/LONDON – Saudi Arabia called on fellow OPEC+ members on Tuesday to be flexible in responding to oil market needs as it builds the case for a tighter oil production policy in 2021 to tackle weaker demand amid a …
EIA
Oil & Gas 360 Publisher’s Note: The world dynamics within the energy markets will have a major impact on pricing, and therefore we are seeing a major decline in production requirements.
In the U.S. Energy Information Administration’s (EIA) November …
DUBAI/LONDON – OPEC and allies including Russia are leaning towards postponement of a planned January increase to oil output by at least three months to support prices as the COVID-19 pandemic continues its second wave, sources told Reuters on …
More positive vaccine news, this time from Moderna, lift markets green and sending energy stocks soaring. The Dow Jones Industrial Average added 356 points, or 1.2%, and reached an intraday record. The S&P 500 rose 0.8% and the Nasdaq Composite
DUBAI – Saudi Aramco said on Monday it had hired banks for a multi-tranche U.S. dollar-denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices.
Gulf issuers show no sign of slowing this year’s …
Market sentiment back bullish as traders eye these new vaccines as a way to curb what are now rising COVID-19 in the US. “This week’s positive vaccine news is a game-changer in our view, as it allows the market to
LONDON – U.S. petroleum inventories are gradually normalising as output curbs by OPEC+ and processing restraint by refiners push the oil market back towards balance.
But with stocks of crude and distillates still well above the five-year average, OPEC+ …
Natural gas (UNG) inventories rose by only eight billion cubic feet at the end of last week. …
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NEW YORK – Oil prices fell about 2% on Friday, pressured by swelling output from Libya and fears that rising coronavirus infections may slow the recovery in the global economy and fuel demand.
Hopes for a vaccine kept crude …
Stocks turn red amid rising COVID-19 cases, with Wednesday breaking a new record with over 140,000 confirmed cases. On the data front, initial weekly jobless claims fell last week to 709,000 from 757,000 in the prior week, the Labor Department
Top energy chief executives say oil demand will recover next year, but they expect volatility to remain elevated, as the industry emerges from the reckoning of the coronavirus pandemic.
“We face a lot of uncertainty,” Total CEO Patrick Pouyanne …
LONDON – Oil prices rose on Thursday, taking this week’s gains to more than 12% on growing hopes that the world’s major producers will hold off from a planned supply increase, though the advance was kept in check by …
Tech stocks lead the way today as investor buy back shares of larger tech companies dragged down by the recent news of a coming vaccine. Apple gained 3%. Netflix climbed 1.1%. Facebook and Amazon rose 1.1% and 3%, respectively. Alphabet
LONDON – Global oil demand will rebound more slowly in 2021 than previously thought because of rising coronavirus cases, OPEC said on Wednesday, hampering efforts by the group and its allies to support the market.
Demand will rise by
Rotations happening among the major indices as Dow Jones (composite of the top 30 capitalized companies) gains over 1% while other indices drop, with large losses in NQ, down over .5%
Amazon
Goldman Sachs cut its 2021 Brent crude price forecast but said a surge in COVID-19 cases in Europe and the U.S. only represented a “speed bump” before a potential vaccine and continued supply cuts by top producers tightened market …
LONDON/NEW YORK/SINGAPORE – Renewed restrictions in Europe and the United States to combat the coronavirus have slowed the pace of fuel demand recovery, offsetting a rebound in Asian economies where consumption has almost returned to pre-COVID levels.
As the …
Stock up HUGE amid Pfizer and BioNTech announcing a vaccine for COVID19 that is 90% effective. Major indices hit all time highs, notably the S&P 500 and Dow Jones, NQ finishes flat (Zoom down BIG) as the pullback from the
LONDON – Hedge funds dumped many of their remaining petroleum positions last week as the surging number of coronavirus cases and fresh lockdowns fuelled fears of a second recession in the United States and Europe.
In response, Saudi Arabia’s …
LONDON – Oil jumped by almost 10% on Monday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could …
LONDON – Global oil inventories may see a small rise in November due to new coronavirus-related restrictions but could return to pre-COVID-19 levels as soon as the second quarter of 2021, the chief executive of Mercuria Energy Trading said …
LONDON – The OPEC+ deal on oil output cuts could be adjusted as it has been in the past if there is consensus among members of the informal producers’ group, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told …
Stock up HUGE amid Pfizer and BioNTech announcing a vaccine for COVID19 that is 90% effective. Major indices hit all time highs, notably the S&P 500 and Dow Jones, NQ finishes flat (Zoom down BIG) as the pullback from the
DENVER – U.S. frackers have been bringing back equipment to boost production even with oil prices languishing around $40 a barrel, tapping into a backlog of drilled wells left uncompleted (DUCs) when oil prices crashed in the spring.
Oil …
LONDON – Oil fell towards $40 a barrel on Friday as new lockdowns in Europe to halt surging COVID-19 infections sparked concern over the demand outlook while drawn-out vote counting in the U.S. election kept markets on edge.
Italy …
Day three of the US presidential election leads to another rally in markets as the projected blue wave seems to have sputtered out. With a predicted split Presidential/Senate/House, markets run wild
Oil
