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
- S&P 500: 2.9%
- Nasdaq: 4.55%
- Dow Jones: 2.36%
Oil
Commodity Pricing
Oil falls as coronavirus cases rise and U.S. vote count continues
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 …
Energy News Beat: #153 – 11/5/2020 – Hosted by Michael Tanner
Oil price path depends on coronavirus control: Kemp
LONDON- Global jet fuel consumption remains severely affected by the uneven recovery in aviation; cargo volumes have rebounded but cross-border passenger flying remains blocked by quarantine restrictions in many countries.
In the United States, commercial jet fuel production over …
Energy News Beat: #151 – 11/4/2020 – Hosted by Michael Tanner
Day two of the US presidential election leads to another rally in markets as the projected blue wave seems to have sputtered out. Even with a projected President Biden, the Senate looks to stay red which is generally supportive of
Oil climbs as U.S. stockpiles shrink, but election uncertainty overshadows market
LONDON – Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown.
Between mid-September and mid-October, Brent’s six-month calendar spread had been tightening, a …
OPEC’s Algeria backs, Russia ponders extended oil output cuts
LONDON – OPEC member Algeria on Tuesday came out in support of deferring a planned increase in OPEC+ oil output from January, a day after Russia’s energy minister raised the possibility with the country’s oil companies.
Algeria, which holds …
Oil prices extend rally on U.S. election day
LONDON – Oil prices extended their rally on U.S. election day with a 3% gain as financial markets staged a broad recovery, though gains were capped by concerns over surging coronavirus cases around the world.
Brent crude futures rose …
Daily Energy Market Summary: #150 – 11/2/2020 – Hosted by Michael Tanner
Markets open this week up ahead of the US election, with polls opening nation wide tomorrow morning. Stocks rose mainly of the theme that the election with be smoother than expected. Majors indices traded mostly flat, with NQ seeing a
Funds sell oil on fears of virus-driven economic double dip: Kemp
(John Kemp is a Reuters market analyst. The views expressed are his own)
LONDON – Hedge funds sold petroleum last week as the rising number of coronavirus cases in the United States and Europe fuelled fears of a double-dip …
Oil faces bumpy road to recovery as second virus wave accelerates: Reuters poll
Oil prices will be hemmed in the $40-45 per barrel range for the rest of the year, a Reuters poll showed on Friday, with analysts expecting a rough road to recovery into 2021 as an accelerating coronavirus outbreak fans …
Daily Energy Market Summary: #149 – 10/30/2020 – Hosted by Michael Tanner
Markets end the week red off fresh highs in COVID-19 cases and stimulus talks break down, driving the Dow Jones down over 450 pts. Tech shares lag as $AAPL reports weaker earnings off the back of slumping iPhone sales.
- S&P
Daily Energy Market Summary: #148 – 10/29/2020 – Hosted by Michael Tanner
Bulls are back! Stock soar ahead of big tech earnings and better than expected GDP growth for the US. U.S. gross domestic product for the third quarter expanded at a 33.1% annualized pace, its fastest growth ever. The reading came
Oil extends losses with 4% slump on renewed lockdowns
NEW YORK – Oil prices tumbled by more than 4% on Thursday, dropping to a five-month low and extending the previous day’s sharp decline on the impact renewed coronavirus lockdowns could have on oil demand.
December Brent crude futures …
Gulf OPEC, Iraq question whether to keep deep oil cuts into 2021 – sources
DUBAI/BAGHDAD/LONDON – Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and …
Daily Energy Market Summary: #147 – 10/28/2020 – Hosted by Michael Tanner
Another day, another red showing for all major indices as COVId-19 lockdown concerns sweep over the markets. Dow Jones finishes below 27,000 for the first time since mid April as investor swarm to save-haven assets. Even NQ takes a hit,
Daily Energy Market Summary: #146 – 10/27/2020 – Hosted by Michael Tanner
Stocks fall again amid renewed COVID-19 pressures ahead off the 2020 presidential election. Major indices (beside NQ) turn red toward the end of the session, with NQ finding slightly green action due to stay at home orders
- S&P 500: -.09%
Column: OPEC+ set for a three-month output rollover – John Kemp
LONDON – Saudi Arabia and Russia will probably agree to extend their oil production cuts and postpone planned increases when they meet for talks with their OPEC+ partners at the end of November.
For tactical reasons, both countries are …
Libya’s ramped-up oil output throws another wrench at prices and OPEC’s plans
A truce in Libya has busted open a renewed source of oil supply, further threatening the commodity’s faltering recovery from its historic drop earlier this year.
Libya’s main warring factions signed a purportedly permanent truce last week, a month …
Daily Energy Market Summary: 360 DCB – 10/23/2020 – Hosted by Michael Tanner
Indices remain flat as hopes of a stimulus agreement before the election were dashed by poor sentiment and a tweet from President Trump.
“We’ve offered compromises, the speaker on a number of issues is still dug in,” said Treasury
Daily Energy Market Summary: 360 DCB – 10/22/2020 – Hosted by Michael Tanner
More stimulus news inches major indices green as Pelosi said Thursday a deal on new coronavirus aid was “just about there.” She also said: “If we were not making progress, I wouldn’t spend five seconds in these conversations.
Daily Energy Market Summary: 360 DCB – 10/21/2020 – Hosted by Michael Tanner
Markets chop between gains and losses as stimulus talks continued into the afternoon, with major indices flat to end the trading session. S&P 500 was up .25%, while positive SNAP earnings pump tech stocks higher at .7% for NQ. Dow
U.S. crude exports likely to be muted through 2020 as production slides
NEW YORK – U.S. crude oil exports are expected to sputter through the end of 2020 due to weak production and unfavorable economics for foreign buyers of U.S. oil, traders and analysts said.
U.S. oil demand is down about …
