• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 1 day America's pandemic dead deserve accountability after Birx disclosure
  • 13 hours Fukushima
  • 30 mins Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 19 hours CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 2 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 2 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 11 mins U.S. Presidential Elections Status - Electoral Votes
  • 17 hours New Chinese Coal Plants Equal All those in U.S.A
  • 3 days Does .001 of Atmosphere Control Earth's Climate?!
  • 4 days U.S. and Chinese investors to buy Saudi pipelines , $10 Billion deal.
  • 2 days Oh the Dems!!! They cheer for helping people while stabbing them in the back!!! Enbridge asks Canadian government to support oil pipeline in dispute with Michigan
  • 3 days The coming Cyber Attack
  • 4 days NG spot prices hit triple digits for weekend delivery

Breaking News:

Oil Soars 5% As Bullish News Mounts

Editorial Dept

Editorial Dept

More Info

Premium Content

U.S. Oil Demand In Danger

1. U.S. oil demand rebound stalls

- Oil prices sank this week along with broader financial indices. But oil was also dragged down by the stagnating demand recovery.

- U.S. gasoline demand has plateaued just as peak U.S. driving season came to a close. In the last week of August, demand actually fell by 1.9 percent compared to the week before. The four-week average in August was down 18 percent from a year earlier.

- “The plateauing in demand is a symptom of the continuing aggressiveness of the coronavirus and is telling us that it will take longer to get back to normal,” said Daniel Yergin, vice chairman, IHS Markit, said in a statement.

- Meanwhile, India’s oil demand is still down 20 percent from year-ago levels.

- However, China posted a 19 percent increase in oil demand in July from the same month a year earlier.

- Still, oil prices plunged this week as both the fundamentals and the broader economic backdrop took on a gloomier tinge.

2. Copper prices continue to surge

- Speculative positioning on copper futures is the most bullish since the second quarter of 2018 in a “massive collective U-turn since the first quarter of 2020,” according to Reuters.

- A surge in imports from China has dramatically tightened copper markets. Imports have increased 38 percent this year to 4.27 million tonnes.

- At the same time, copper concentrate supply has decreased 1.4 percent by bulk…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News