Week in Review – April 30, 2021

Oil prices climbed higher throughout the week, and one bank sees it as the start of a broader rally. Goldman Sachs is calling for crude oil prices to rise more than 10% over the next few months as oil demand climbs back to pre-COVID levels and interest rates remain low. In addition, the US’s relative […]

OPEC Maintains Supply Increases Despite India Slowdown

Despite a mixed API report, crude oil markets gained nearly a dollar per barrel yesterday, and the gains are continuing this morning. The CDC loosened guidelines on mask-wearing in the US, saying that mask-wearing outdoors was unnecessary except in crowds and that fully vaccinated individuals can assemble indoors without masks. The measure adds confidence that […]

Mid-Week Review – April 28, 2021

Oil Prices Climb As OPEC+ Holds Firm on Output Cuts The OPEC+ group will not hold a full ministerial meeting on Wednesday as planned, delegates at the Joint Ministerial Monitoring Committee (JMMC) agreed at their meeting on Tuesday, signaling confidence in the current plans to ease the production cuts as of May despite surging COVID […]

New Single-Shot Vaccine Shows 72% Efficacy in US

Oil markets are rising higher this morning, supported by a new Johnson & Johnson vaccine reaching the end of clinical trials. Although the efficacy appears to be just 72% in the US (and lower against the South Africa variant), it only requires a single jab, making its logistics far less complex than the Pfizer and […]

Week in Review – January 29, 2021

This week was full of price swings, but none of those swings resulted in a meaningful trend for the week. The oil market seemed to be taking in new political news carefully, tucking it away rather than acting on it. This week certainly wasn’t short on political news – from stimulus deal fighting to Biden […]

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 […]

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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