Vaccine Optimism Trumps Bearish Inventory News

On Tuesday, WTI crude closed sharply higher following US equities. The Dow Jones Industrial Average closed above 30,000 for the first time in history and crude followed to levels not seen since March. The major drivers lifting markets are news of multiple highly effective coronavirus vaccines and the beginning of the official transition of power […]

Mid-Week Review – November 25, 2020

Why The Vaccine Oil Rally Won’t Last Oil is on the rise after a third company developing a vaccine for Covid-19 announced positive efficacy results this week. They may well continue to rise for a while, but it would pay to be careful with betting on an endless rally. Click here to read more from […]

Vaccine Rally Levels Off as Infections Rise

WTI crude closed slightly higher yesterday on the hopes of OPEC+ balancing the market and the continuation of the rally from coronavirus vaccine news. This morning, however, the market is feeling downward pressure from mounting coronavirus infections and deaths and rumors of the UAE considering leaving OPEC. The US has surpassed a grim milestone of […]

Market Waiting on Clues from OPEC+

Crude closed up sharply yesterday on news of a second coronavirus vaccine with 95% efficacy. The vaccine, made by Moderna, is also more stable and can be stored at regular freezer temperatures unlike Pfizer’s vaccine which requires special low temperature storage.  The market is giving back some of those gains this morning ahead of news […]

OPEC Willing to Act Soon if Needed

Crude closed over 8% higher yesterday on news of successful trials of a coronavirus vaccine by Pfizer. The vaccine was reported as being 90% effective and oil markets responded positively. Crude is continuing gains this morning as markets wait on inventory news for the week. The news of the vaccine gave oil traders hope that […]

Traders Bullish on Vaccine News

This morning crude is up sharply on news of progress on a potentially extremely effective coronavirus vaccine. Oil traders are connecting the dots between a highly effective vaccine and future rising demand for fuel and travel. In addition, the certainty of a Biden victory in the US election and a weaker dollar are also exerting […]

Europe Fears Second Recession as Infections Rise

Last week, WTI Crude finished sharply lower on multiple triggers including bearish inventory news and the return of Libyan supply to the market. The market is continuing its losses in early trading this morning ahead of tomorrow’s election. Uncertainty around the election and fears of a second recession due to the second wave of coronavirus […]

New Daily Record for Infections Pressures Market

Oil is trading down slightly this morning after two days of sharp losses. Concern around the pace of economic and demand recovery due to the coronavirus is the major driver moving prices this week. We are seeing a spike in coronavirus infections as the winter months approach and the forecast is for an accelerating rate […]

Week in Review – October 30, 2020

The week had several major factors driving the market this week.  The one bullish factor was the reassurance by OPEC that they would continue to balance the market.  Secretary General Barkindo of OPEC assured the market that OPEC would remain vigilant and would intercede to balance the market as necessary. Several bearish triggers drove the […]

Bearish Triggers Drive Market Lower

On Tuesday, WTI crude rose on the news of Hurricane Zeta making its way through the Gulf and shutting in production.  This morning, however, the market is dropping sharply on bearish inventory news from the API late yesterday. A number of bearish triggers are driving the market lower this morning: The fear of slowing demand […]

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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