• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 56 mins Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 5 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 9 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days An Indian Opinion on What is Going on in China
  • 2 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 15 hours Nord Stream - US/German consultations
  • 2 days Can Technology Keep Coal Plants Alive and Well?
  • 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 3 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 5 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 2 days Storage of gas cylinders
A Novel Solution To The Plastic Pollution Problem

A Novel Solution To The Plastic Pollution Problem

Global initiatives and new technologies…

Editorial Dept

Editorial Dept

More Info

Premium Content

It’s Time To Take Profits On Oil Stocks

Usually, when a market move makes no sense to you, it is you that is wrong. As my old dealing room boss loved to say, or rather shout, the market cannot be wrong. It is simply a reflection of the last place two people were prepared to trade, so it is always right. Still, there are times when I look at a move and just scratch my head. Now is one of those times.

Over the last month or so, WTI futures (CL) have shot up around forty percent. Given that U.S. supply has been falling as the economic recovery from the shutdown continued and that that is reflected elsewhere in the developed world, that makes perfect sense…up to a point.

That point came this week, when the move up continued to a new nine-month high, even as some of the factors that have caused it started to look a bit wobbly, to say the least.

On the demand side, the world, and the U.S. in particular, is seeing a resurgence in Covid-19 cases, hospitalizations, and deaths that have resulted in a return to partial shutdowns in some states and the prospect of more to come. Of course, I understand that there has been significant progress on the vaccine front and that the U.K. has even begun the rollout of one version but what does that mean in the short term for U.S. demand?

To be honest, very little. Health experts are saying that even if one or more vaccines become available before the end of this month, other restrictions will probably have to stay in place for at least several months…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News