Author: David Cohen

The market was also anticipating a new $900 billion stimulus deal as soon as today, though congress passed a short term bill to continue funding the government while the deal is being worked.

Oil prices rose again today touching nine months highs as headlines for the day indicated the US was getting close on a stimulus package.

Crude prices traded up today as the EIA report showed a drop in crude inventories. The Fed in a press conference today announced they would…

It may be a while before things return to normal.

Traders have for years now been used to tensions flaring in the region and when that happens, oil markets tick up,

“Oil’s rally could be capped for the early months of next year by waning support from the supply side and a still uncertain near-term demand recovery”

Oil had a strong day with Brent rising above the $50/bbl mark for the first time since March, led higher by improving sentiment around the vaccine and demand recovery

Oil prices were surprisingly flat today despite a massive (bearish) shock on today’s inventory report. Crude stocks had a build of 15.19 MM/bbls, versus a forecasted draw of -1.15MM/bbls.

Oil prices were mostly flat for the day, not a lot of market moving news. Hope for a stimulus deal seems to be dying off but

Vaccine optimism (euphoria?) is also outweighing the news of record Covid deaths and hospitalizations here in the US. “We’re higher, despite super bearish events – it’s all about stimulus,”