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Oil Dips on Covid Fears As Attention Turns To Earnings Reports by Ship & Bunker News Team Monday July 26, 2021 Meanwhile, Brazil defies global trend by planning to pump all-out: File Image/Pixabay With media hype over Covid variant cases climbing in some parts of the world reaching fever pitch, crude prices on Monday suffered a dip, albeit slightly better than the 1 percent drop incurred shortly after the beginning of the session. Vanda Insights said in a note, With daily new Covid cases in the U.S. continuing to rise, oil demand uncertainty was the main driver of market sentiment. Peter McNally, global head of industrials, materials and energy at ....
Oil Dips, But Full Steam Ahead For 2021 Demand Rebound, Say Analysts by Ship & Bunker News Team Friday March 12, 2021 Meanwhile, production restraint means massive inventory drainage in Bahamas: File Image/Pixabay Although two key crude benchmarks dipped on Friday and ended the week roughly flat after seven consecutive weeks of gains, oil still settled near $70 per barrel, supported by optimism for demand recovery during the second half of this year. That, plus production cuts by major producers, resulted in Brent settled down a mild 41 cents to 41 cents to Jim Ritterbusch, president of Ritterbusch and Associates, said, “Demand for risky assets such as oil continues to be buoyed by the White House relief package and an almost daily flow of optimistic vaccine headlines.” ....
Oil Dips on China Covid Woes, But Goldman Still Bullish On Market Prospects by Ship & Bunker News Team Friday January 22, 2021 The one-two punch of U.S. crude inventories resulted on Friday in a price decline of two key oil benchmarks. Brent dipped 86 cents, or 4.4 million barrels in the most recent week, compared to expectations for a 1.2 million barrel draw; Tony Headrick, energy market analyst at CHS Hedging, pointed out that Crude oil exports did fall quite dramatically, which is the main reason for a decent build overall in crude stocks. “ Mark Oberstoetter, research director, Wood Mackenzie Still, Goldman Sachs on Friday struck an optimistic tone by pointing out that the new U.S. administration s plans for huge fiscal spending and little urgency to lift sanctions on ....
Oil Dips as Traders Anticipate More Near-Term Lockdowns by Ship & Bunker News Team Monday December 28, 2020 Despite the massive Covid vaccine rollout that will end the pandemic sometime in 2021 (with the U.K. possibly returning to normal life by the end of February), crude traders on Monday were worried about further lockdowns in the interim, and as a result prices dipped moderately. Brent settled down 61 cents at John Kilduff, founding partner at Again Capital, remarked, We continue to focus on this pandemic and what January is going to bring; the prospects of more lockdowns are looming and I think that is what s holding things back. ....