PFL Market Reports

“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,”

Oil prices rose today, buoyed by hopes of a US stimulus deal which is gaining bipartisan momentum.

Oil prices edged up today on an OPEC+ deal and bullish jobs report. OPEC+ agreed to a modest output increase beginning

“News of the U.K. vaccine approval is what the oil market needed more than anything else to get demand up…the rest is largely just noise,”