Oil prices were off today, as concerns build over rising COVID-19 cases and the state of the economy in Q1 and going forward. This is the first weekly decline in 3 weeks as financial contracts had been boosted by strong equities and a weaker dollar. “The COVID-19 pandemic’s spread is taking center stage again and traders are getting increasingly worried about the long duration of European lockdown and about the new restrictions (in) China,” Bjornar Tonnage from Rystad Energy said. Asia was the main pocket of demand that remained pretty strong over the last few months and rising cases in China and lockdown measures taken to combat that are putting new pressure on prices. WTI traded down $1.21 or -2.26% to close at $52.36. Brent traded down $1.32 or -2.34% to close at $55.10
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Thanks to followers like you we were able to reach our goal of 1,000 LinkedIn followers. Since our last promotion was so successful we are going to do it each quarter! Help us reach 1,500 followers by Q2 and you will be put into our next raffle to win a PFLX railcar! All you need to do to qualify is Like and Share our latest Railcar Giveaway post on LinkedIn and follow our LinkedIn page! Once we hit our Quarterly goal our very own Lisa will draw a random name from a hat.
Disclaimer – Only one person will be selected at random to win per quarter. PFL must reach 1,500 total followers by the start of the Second Quarter. (As of writing this PFL is at 1,087 followers) To qualify you must like, share the post on LinkedIn and follow the PFL LinkedIn page. You must be 18+ and live within USA or Canada. See link below for the LinkedIn post. Redrawing will be held in the event the winner cannot be reached.