Category: Petroleum Daily

Colder weather across the US has been positive for oil demand, and the deep freeze has shut in an estimated 2MM/bpd of production in Texas.

A drop in new Covid cases and hospitalizations have also been encouraging for markets. “Expected U.S. stimulus and ongoing vaccine progress is likely to maintain appetite for risky assets

Oil prices cooled off today after a long win streak despite the Dow hitting record highs earlier today.

The oil rally is now the longest it has been in two years, with 9 straight winning days as vaccine, stimulus, and output cuts keep the momentum going. However, Bjornar Tonhaugen of Rystad Energy warned “The current price levels are healthier than the actual market and entirely reliant on supply cuts, as demand still needs […]

Brent reached $61.09 up $1.22 hitting a fresh high as OPEC+ cuts, along with the expectation of another

Today Egypt announced that their oil and gas companies are set to launch their new oil and gas exploration by the end of this month.

U.S. employment growth rebounded moderately in January and job losses in the prior month were deeper than initially thought, underscoring what some say is an urgent need for additional relief money from the government.

The dollar is at 2 month highs, now well above the 50 day moving average (and everybody has been pricing assets according to the dollar going lower) but speculative

There will be no market commentary for February 3rd, 2021. Click here if viewing from mobile

Oil prices jumped today to fresh new highs (post pandemic) as OPEC production increases were less than expected.