Oil Up On The Week As Demand Recovery Optimism Intensifies
by Ship & Bunker News Team
Friday April 16, 2021 A big jump in
China s gross domestic product wasn t enough to prevent a modest slide in crude prices on Friday; however, overall optimism for demand recovery that gained traction in earlier sessions was enough to propel oil to a healthy weekly gain. Brent on Friday settled down
17 cents at
6 percent on the week; West Texas Intermediate settled down
33 cents at
India s coronavirus infection rate hitting a record while
Germany s chancellor stating a third wave of the virus had the country in its grip.
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out of the air, you can make a good deal of progress on lower end climate change but the problem is that the administration has basically removed all regulations on methane. natural gas is cheap there are times when people are paying people to take it away, they literally can t sell it and the infrastructure does not exist to carry to the consumer so instead of tempering the amount of oil that they are putting out, they are flaring the natural gas, they are lighting it fire so when you frac, you bring the oil up, you are bringing the natural gas with it. so burninging off a inoff al natural gas. and averaging 550 million cubic feet per day wasted compare that to shell s number
oh, yeah.t laura: they re afraid of him saying that again. i don t know what it s going to take for people, especially the democrat party. these are a lot of democratic-run cities all over america like this. it s not just baltimore unfortunately. and i think they re really into just boosting themselves up and padding their own pockets. but there are people who are being forgotten and it s really sad. i didn t do any other interviews because i didn t think this is not about me. this is about west baltimore, the people who live there. this is about getting the trash picked up. and i think will it s great that people want to go and pick up the trash. i have to warn people, this is a dangerous situation. where i was, there were needles, there were dead rats, feces. this is not something laura: like l.a. or san francisco, same thing happening there. you can t just go and pick il up. you need people trained that can clean this up. the city officials can get that. laura: they re
on an acting basis. this would be the third such defense secretary for this administration. obviously in the middle of everything that is happening in iran. we ll keep close track of that. i do want to take your attention to the markets as well. for all of this back and forth and the shifts and who is running the defense department and not and what is happening in iran and not, you d think that we would be free falling or oil prices would be sky rocketing. we re not. we ended on a down note for the dow today. could have been worse. oil up $1.60 a barrel. putting that in perspective around the unrest around opec oil cuts in the 70s, they doubled to quadrupled 48 hours. that was then. very different reaction now. we ll explore that in more detail. the world markets and our own markets holding up nicely. the dow up about 2.5%.
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