Mid-Week Review – September 23, 2020

Oil down after U.S. crude inventories rise against expectations

Oil prices fell on Wednesday after an industry group reported a surprise rise in U.S. crude, adding to worries about demand that led to a steep selloff earlier in the week. Click here to read more from CNBC.

Oil refiners worldwide struggle with weak demand, inventory glut

Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts. Click here to read more from Reuters.

Oil scores partial rebound as traders bet on a second weekly decline in U.S. crude supplies

Oil settled higher on Tuesday, finding support from expectations for a second weekly decline in U.S. crude supplies. Prices scored a partial rebound from the sharp decline in oil seen a day earlier, when the rise of COVID-19 cases and potential for renewed activity restrictions in Europe fed a global equity selloff. Click here  to read more from MarketWatch.

A rare piece of good news for oil refiners; renewable diesel

There aren’t many growth stories in the oil industry as demand starts to decline and the price of gasoline and diesel stagnate, but an emerging specialist sector is starting to attract serious attention; renewable diesel. Click here to read more from Forbes.

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.

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