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Premium Content Brent Back Above $69 As Bullish Sentiment Holds By Josh Owens - Mar 12, 2021, 2:00 PM CST Despite a strong U.S. dollar, there is an unmistakably bullish sentiment in oil markets as demand comes back online and the vaccine rollout continues. In this week s Global Energy Alert, our trading team delves into how an inflationary environment will impact oil stocks. Friday, March 12th, 2021 Oil prices regained lost ground towards the end of the week, as tight supplies are forcing a global drain in inventories. “Overall, we are bullish on oil demand continuing its upward trajectory in tandem with vaccine programs and the resumption of economic activities,” Bjornar Tonhaugen of Rystad Energy said in a statement. ....
Here is the current market situation from CNN Money European markets are mixed today. The DAX is up 0.38% while the CAC 40 gains 0.37%. The FTSE 100 is off 0.25%. What Is Moving the Markets Here are the headlines moving the markets. Bidens Policies Unlikely To Cause Crash In U.S. Oil Production U.S. President Joe Biden has put the oil industry and oil-producing states on edge with his plans to reform oil and gas permitting and leasing practices on federal land and in federal waters. Currently, the Administration is pausing new oil and natural gas leases pending completion of a review for potential changes to the regulations. Although it is not clear yet how restrictive those changes would be, the industry and analysts are trying to quantify how much U.S. oil production would suffer in the medium and long term. Immediate impacts will likely ....
Biden's Policies Unlikely To Cause Crash In U.S. Oil Production oilprice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oilprice.com Daily Mail and Mail on Sunday newspapers.
Dick s Sporting Goods shares fall as retailer predicts slowing sales in year ahead (SPY +1.4%). Nvidia stock leads chip rally as tech shares bounce back. The Market in Perspective Here are the headlines moving the markets. How Oil Could Go To $100 Per Barrel In its February Short Term Energy Outlook (STEO), the EIA forecasts this month s world oil consumption at 96.7 million barrels per day (mbpd). The oil supply, however, is much lower, only 93.6 mbpd, with the difference of 3.1 mbpd of necessity being drawn from crude oil and refined product inventories. By historical standards, a sustained draw of 3 mbpd is large, and we would expect prices to be rising under such circumstances. The EIA sees demand continuing to recover at a good pace to mid-year, with July world oil consumption forecast at 98.2 ....