Energy

Oil prices stutter as fears that the impressive global oil demand snap-back with a stall as the Covid-19 continues to challenge the global economy. In the U.S., confirmed cases of Covid-19 are now over 3.5 million and with growing.
Oil prices closed at a 4 1/2 -month high as the impact of OPEC production cuts and an increase in air travel led to a huge crude oil draw and products as well.
OPEC’s Joint Technical Committee is trying to thread the oil needle by increasing oil production but not crash the global oil market price. While some fear that any production increase in global output will end the most significant oil price recovery on record, the reality is data shows that very soon, the world is going to need more oil.
Shutdown fears and uncertainty about OPEC raising oil output shook the confidence of oil market bulls. The next big driver for oil will be after the OPEC meetings.
OPEC+ has a problem. How do they increase production to maintain market share and at the same time, not crash the market in a sea of oversupply? .
A grim report that showed a record U.S. daily cases of Covid-19 infection reported. The IEA warns that the rise in Covid-19 cases is the biggest threat to demand and the oil price recovery.
The international trade in LNG has collapsed, squeezing an important outlet for U.S. shale gas. A snap-back in gasoline demand in yesterday’s weekly EIA report offset concerns about a build in U.S. crude oil supplies.
Fed actions, along with OPEC plus cuts that are going to reduce supply along with the historic drop in U.S. oil production, will set the stage for higher prices and better demand for oil. They slightly raised their forecast for production based on a forecast for a higher price.
Oil prices are dipping as it tries to create a floor near $40.00 a barrel. I think oil will flip later today despite the dip.    
After Dominion and Duke canceled their plans to build the Atlantic Coast Pipeline, Berkshire-Hathaway assumed their debt and bet big on Natural Gas.