Week in Review – March 12, 2021

Oil prices surged to multi-year highs on Monday morning, with an attack on Saudi oil infrastructure adding to market risk estimates. When those attacks did not yield any damage, prices fell back to pre-attack levels, continuing to fall even lower as the week continued. Fuel market turmoil has plagued many parts of the US. Refinery […]

Stimulus Bill Will Also Stimulate Oil Demand

Thursday brought a huge up-trend for oil markets, supported by the passage of the $1.9 trillion stimulus package in the US and a bullish monthly report from OPEC. The stimulus package was signed on Thursday by President Biden, providing a huge financial injection for the economy and more funding for vaccine distribution. The Wall Street […]

Yellen: “Act Big” on Stimulus Deal

Oil prices are continuing yesterday’s rally, with all eyes looking towards the Inauguration Ceremony in Washington DC. Traders continue hoping for stimulus to lift economic prospects. Treasury Secretary Nominee Janet Yellen, former chair of the Federal Reserve, stated yesterday that Congress should “act big” in its legislation. Yellen argued that low interest rates would keep […]

Mid-Week Review – January 20, 2021

Saudi’s oil cuts appear prophetic as market risks grow For Saudi Arabia, bad news in the oil market has rarely been such a vindication. Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that — rather than restore halted production as planned — it would slash supplies by a further 1 […]

Hope for Third Round of Stimulus is Growing

Crude closed up only a penny yesterday but is hitting 11-month highs this morning. The continuation of last weeks’ rally based upon voluntary production cuts from Saudi Arabia and a weaker dollar is helping to lift markets. In addition, the easing of coronavirus restrictions and the ensuing uptick in travel and economic activity along with […]

New Multi-Month Highs as Markets Continue Rally

Oil markets are rallying this morning despite an absence of “new” news to provide incremental tailwinds. Indeed, the news may even be considered as a bearish factor, with Tokyo and Quebec each enacting restrictions to curb new COVID-19 cases. But the scale of the news this week has been lifting financial markets across the board, […]

Bullish and Bearish News Offset Each Other

WTI crude closed higher yesterday on the news of Saudi supply cuts and the hope for additional economic stimulus due to the Senate races’ results in Georgia. Both Senate seats went to Democrats, giving them a majority in the Senate and increasing the chances of another round of coronavirus stimulus. The market is relatively flat […]

Trump’s Stimulus Demand Pressures McConnell

Due to the upcoming holidays, FUELSNews will resume its regular schedule on Monday, January 4. We wish you and your families a very blessed, safe, and happy holiday season. On Tuesday, WTI crude closed lower but is clawing back some of those losses in early trading this morning. Bullish inventory news from the EIA is […]

New COVID Strain Spooks Markets

After once again setting a multi-month high on Friday, crude oil is trading steeply lower this morning on news of a new strain of coronavirus in England. The new strain is reportedly up to 70% more transmissible, though scientists have thus far seen no signs that it’s more deadly or will react differently to recently […]

White House Flip Flops on Stimulus Negotiations

WTI crude is down this morning after President Trump called for a halt to economic stimulus negotiations until after the election. This announcement came just hours after Fed Chairman Jerome Powell reiterated the need for more stimulus. This morning, Trump has changed his messaging again, saying he’s willing to sign a narrow deal that only […]

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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