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Oil Set for Best Week Since Early March on Better Demand Outlook

Oil Set for Best Week Since Early March on Better Demand Outlook
Bloomberg
1 hr ago
Saket Sundria
(Bloomberg) Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.
Futures in New York were steady Friday and up almost 7% this week. There are more signs of an economic rebound in the U.S., with jobless claims falling to a new pandemic-era low and retail sales accelerating. That followed government data that signaled rising American gasoline consumption and positive outlooks for the global energy market from the International Energy Agency and OPEC. ....

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Oil Drops on Stronger Dollar With Mixed Demand Clouding Outlook

Oil Falls for First Week in Two Months With Rally Losing Steam
Bloomberg
3/12/2021
Andres Guerra Luz and Alex Longley
(Bloomberg) Oil in London fell for the first week in two months as signals of a patchy demand rebound across the globe and a stronger dollar held back a crude’s rally.
Global benchmark Brent futures fell 0.6% on Friday. West Texas Intermediate also edged lower, posting its first weekly decline in three weeks. A fresh bout of bond volatility spurred a risk-off mood across markets, with U.S. equities declining and the dollar strengthening. Meanwhile, Indian fuel sales dipped in February amid higher pump prices, but demand has been climbing in the U.S. and the U.K. ....

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Oil Poised for Seventh Weekly Gain Amid U.S. Stimulus Hopes

Oil Posts Weekly Gain With Stimulus Hopes Aiding Vaccine Rally
Bloomberg
12/18/2020
Andres Guerra Luz
(Bloomberg) Oil rose for a seventh straight week as efforts to pass another U.S. virus relief package added to optimism that the vaccine’s rollout will provide a long-awaited boost to demand.
Futures rose 1.5% in New York on Friday, extending this week’s rally to over 5%. Talks on a relief package have made some headway, with Senate Majority Leader Mitch McConnell saying he’s “even more optimistic now” that an agreement is near. Recent progress in rolling out a Covid-19 vaccine has also buoyed the outlook for consumption. ....

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