Week in Review – November 13, 2020

WTI crude finished the week higher on news of an effective coronavirus vaccine from Pfizer.  In late trials, the vaccine is 90% effective at stopping the transmission of the coronavirus. Traders read the news as a return to normalcy and a sign of future increased demand for fuel. Although the future is hopeful, near-term health […]

IEA Downgrades Demand Forecast

WTI crude experienced three straight days of gains this week after news of a vaccine from Pfizer with over 90% effectiveness came to light. The vaccine news built hope for traders in a possible return to normalcy and a world without lockdowns and travel restriction.  Traders connected the dots between vaccine success and rising future […]

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 […]

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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