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Premium Content U.S. Oil Product Demand Is Set For A Biden Boost In 2021 By Rystad Energy - Jan 20, 2021, 1:00 PM CST After a devastating 2020, Rystad Energy projected demand for oil products in the US to grow by 1.08 million bpd in 2021 to 19.1 million bpd. This projection left politics aside but if President Joe Biden lives up to his promises after his inauguration, we see an upside to US products demand of about 350,000 bpd, as a result of the planned short-term economic stimulus and his infrastructure plan. The expected stimulus package includes financial aid to low-income American families, extended unemployment insurance payments, and billions of dollars in support to state and local governments to avoid layoffs of state employees. Together with a sizeable infrastructure package and an increased likelihood of additional short-term stimulus packages down the road, the Democratic policies create a definite oil products demand upside. ....
Peloton Stock Is Under Pressure as UBS Says to Sell (SPY +0.6%). Goldman earnings top estimates and oil rises on expectations of big US Stimulus package. Here is the current market situation from CNN Money North and South American markets are mixed. The S&P 500 is higher by 0.66%, while the IPC is leading the Bovespa lower. They are down 1.82% and 0.71% respectively. What Is Moving the Markets Here are the headlines moving the markets. Oil Rises On Expectations Of Big U.S. Stimulus Package Oil prices shook off the risk-off trade on Monday and rose early on Tuesday, amid expectations that U.S. Treasury Secretary nominee Janet Yellen will push for a large relief package to support the U.S. economic recovery. As of 10:39 a.m. ET on Tuesday, WTI Crude prices were up 0.92 percent at $52.80 and Brent Crude was trading up 1.92 percent at $55.80. A weaker U.S. dollar also helped the rise in crude oil prices. The dollar slipped from a one-month high early on Tue ....