Mid-Week Review – July 29, 2020
End Game for Oil
Somare speculating that oil demand may never recover to pre-COVID levels. If that’s the case, a lot of OPEC nations, reliant on exports to fill government coffers, may be in trouble. Click here to read from Reuters how the group is coping with declining oil demand.
Infrastructure: The Next Big Thing for Autonomous Vehicles
The transition to autonomous vehicles will be a long, complex conversion process. A few years ago, AVs were heralded as the future of transportation; now, regulators and manufacturers are grappling with the sticky challenges it presents. Significant changes are required in policy, infrastructure, and leadership. Click Here to read more from Freightwaves
Tropical Storm Isaias Warning Issued
Just as Gonzalo dissipates, Isaias was preparing to rear its head. Current forecasts show Isaias tracking towards to coast of Florida after passing over Carribean islands. A Storm Alert will be distributed later with further details on the fuel impacts. Click Here to read more from the Weather Channel.
Crude Price Drop Causes Billions in Write-Downs for Producers
When oil prices cratered, energy companies felt the heat. Since then, they’ve had to write off over $48 billion in assets as wells become unprofitable. That write-off was the largest drop since 2015. Click Here to read more from the EIA.
This article is part of Daily Market News & Insights
Tagged: API, inventory, Iran, Middle East, missiles
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.