Oil just posted its 7th negative week over the last 8 weeks, although some optimism began to develop around a gradual economic reopening and oil production agreements kicking in.

In the last four weeks alone we have wiped out nearly all of the new jobs since the Great Recession in 09

Crude oil prices fell again today, with WTI settling below $20/bbl, falling to 18 year lows on a historic and much larger than anticipated build in crude inventories. Crude stocks grew by 19.2MM/bbls, compared with what the API estimated would be a build of 13MM/bbls. Analysts had expected something even more moderate, at a build […]

Oil fell more than 10% today as demand fears continue to outweigh any positive developments on the supply side.

Despite cuts amounting to roughly 10% of global supply, in the short term it may have already been priced in.

BREAKING: OPEC+ agrees to historic 10MM/bpd production cut. What does this mean for crude?

Oil prices traded up for the day, whipsawing up near the end of the session on hopes of a
production cut tomorrow.

No commentary today

Peter Cecchini of Cantor Fitzgerald said this today on CNBC “I’m really, frankly, not all that convinced that this is an all-out fist-fight between Saudi Arabia and Russia.

Oil prices posted their best week in history on the hope that a production cut deal will soon be reached. OPEC and its allies announced they will hold a virtual meeting on Monday