Energy

Oil Market Tries To Balance Covid-19 Concerns With Encouraging Vaccine News

Phil Flynn

November 17, 2020

Oil prices are at a historic turning point. The market tries to balance concerns about more short-term Covid-19 lockdowns versus the high probability that a safe and effective vaccine will allow oil demand to start returning to normal.

Oil Prices Take a Hit on Covid-19 Fears

Phil Flynn

November 13, 2020

U.S. refinery runs are still weak, partly due to storms, bad margins, and seasonal maintenance.

Vaccine News Causes Pain for Oil Bears

Phil Flynn

November 10, 2020

Oil funds got caught short as the demand outlook improves with hopes that we will get a coronavirus vaccine. There will be more pain for the shorts as they have to exit positions.

Covid Vaccine News Gives Crude Oil A Boost

Phil Flynn

November 9, 2020

The vaccine against Covid-19 was powerfully effective, exceeding expectations with results that are likely to be met with cautious excitement.

Covid Plagues Oil and Gas Demand

Phil Flynn

November 6, 2020

While in the short-term, demand destruction may be on the market’s mind, the real cost to the energy sector will be production destruction. A situation that will have grave consequences on the market when oil and gas demand eventually return. 

Split Congress Is Good For Energy Sector

Phil Flynn

November 5, 2020

Crude prices and oil products soared on hopes of gridlocks and goldilocks and a potential economic growth explosion.

Lockdowns Sweep Across Europe

Phil Flynn

November 2, 2020

U..K. Prime Minister Boris Johnson announced a second national lockdown for England late Saturday, following France and Germany’s imposition of new restrictions in response to surging Covid-19 infections.

Lockdowns Destroy Oil Demand

Phil Flynn

October 30, 2020

Despite reducing global inventories and improving demand, OPEC plus will have to stay the course as Covid makes a comeback. If the shutdowns expand, they may have to find a way to make additional cuts.

Storm Surges and Shutdowns Loom Over Oil Demand

Phil Flynn

October 29, 2020

Shutdowns in Europe and more restrictions in U.S. cities and states are raising fears about another wave of oil demand destruction.

Hurricane Zeta Set To Hit Land Later Today

Phil Flynn

October 28, 2020

The API reported a considerable hurricane shutdown that inspired a crude build of +4.577 million barrels with a Cushing, Oklahoma increase of 136.000 barrels.