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 […]
The market is springing higher this morning, erasing most of Friday’s losses on news that President Trump’s condition is improving. Markets sold off last week in a wave of uncertainty. Virtually every media source has turned to questioning how President Trump’s test would affect mandatory quarantines, the election, and even national security. This morning, reports […]
Crude rose slightly on Monday, following US equities higher. Concern over rising coronavirus cases in the US and Europe continue to put a cap on prices. More than one million people have died of the coronavirus during this pandemic, which has ravaged economies around the world and affected fuel demand. While prices have broken the […]
On Wednesday, WTI crude closed slightly higher but is trading sideways in early trading this morning. Despite the resoundingly bullish EIA report yesterday, markets failed to rise above $40/bbl. The dollar strengthened for the fifth day in a row as US equities fell and investors fled to cash. Yesterday’s flight to cash was triggered by […]
Yesterday, WTI crude closed higher as expectations of a US stimulus package was supported by lawmakers reopening negotiations, with Treasury Secretary Steve Mnunchin highlighting that compromise was possible on some topics. The market rose after a presidential Tweet that Democratic leaders in Congress asked to speak with President Trump regarding coronavirus economic relief plans. Markets […]
Yesterday, WTI crude closed up slightly on hopes of a new round of stimulus measures being discussed in the US. A monetary injection into the economy in the form of another stimulus package would give a jolt to the wavering economy as it oscillates between gains and losses due to coronavirus fears. In the crude […]
Oil markets are seeing light activity this morning following Friday’s news of the first weekly increase in US oil rig counts since March. The US economy is in focus for oil markets today, as two major releases are expected this week. First, Senate Republicans today will unveil their latest economic stimulus package, which most expect […]
Yesterday, WTI crude closed the day marginally higher. Prices are up in early trading this morning on news from the European Union of a 750 billion euro ($859 billion) fund to assist EU economies hurt by the coronavirus. The unprecedented deal allows the European Commission to raise billions of euros on capital markets on behalf […]
Sentiments are broadly improving across the market, as COVID-19 cases in most countries appear to have peaked and moved into remission. Now on the other side of the curve, many European countries and American states are looking at reopening their economy in a slow, measured way to aid suffering businesses. At the forefront, Georgia is […]
