• 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
  • 6 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 9 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Did China cherry-pick the factors that affected the economic slow-down?
  • 10 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 2 days Nord Stream - US/German consultations
  • 4 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 408 days Class Act: Bet You've Never Seen A President Do This.
  • 4 days An Indian Opinion on What is Going on in China
  • 1 day Forecasts for Natural Gas
  • 2 days Australia sues Neoen for lack of power from its Tesla battery
  • 4 days Storage of gas cylinders
  • 4 days Can Technology Keep Coal Plants Alive and Well?
Editorial Dept

Editorial Dept

More Info

Premium Content

Oil Demand Revised Down Once Again

1. Oil rallies on vaccine hopes

- The oil bulls returned this week on the extraordinary news that a potential coronavirus vaccine is not only effective but could be widely available by the second quarter of 2021.

- WTI surged 9% in just a few hours and seesawed the rest of the week, but now looks steady above $40 per barrel.

- The rally was accentuated by the fact that investors have recently sold off oil, trading out of bullish positions. “The excessive investor skepticism, and their previous unbridled optimism, are often good counter-indicators,” Commerzbank wrote in a note. The bank added that there is “little in the way of fundamental factors to support any more pronounced upswing.”

- Gold reacted in the opposite way to vaccine news, plunging by around 5% shortly after the announcement. “The main explanation for this is that further stimulus measures will be less necessary if an effective vaccine becomes available,” Commerzbank said.

- The flip side is that U.S. covid cases are surging rapidly and it will take time to deploy the vaccine. Potential Washington gridlock could put even more pressure on monetary easing, a bullish factor for gold waiting in the wings.

2. Oil demand revised down on a COVID surge

- A vaccine holds out hope, but in the interim, demand has been disappointing. The IEA cut its third-quarter oil demand forecast by 0.4 mb/d this week.

- Worse, the agency…





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