Thursday s analyst upgrades and downgrades - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Oil Erases Gains With Industry Report Showing Rising U.S. Supply
Bloomberg 1/20/2021 Andres Guerra Luz
(Bloomberg) Oil erased its increase after an industry report showed U.S. stockpiles grew last week, heightening concerns over lackluster consumption.
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Futures retreated from the settlement price after the American Petroleum Institute was said to report a surprise 2.56 million-barrel build in domestic oil supplies, ahead of U.S. government figures Friday. Crude inventories were expected to have declined last week, according to a Bloomberg survey. The API report also showed builds in refined products.
Worldwide, fuel use is expected to take another hit as new virus outbreaks in China add to a wave of infections in Europe and other parts of the world. JPMorgan Chase & Co. cut its Chinese demand forecasts for January to March.
Brookfield, KKR said to eye US$10B Aramco pipeline stake bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.