Despite the surge in coronavirus cases in recent weeks, crude oil demand in the United States could be on track to increase in the coming months as inventories have been steadily declining since their peak levels in the summer. Total U.S. stocks of gasoline and diesel are still trending above their five-year averages, but the […]
In late April this year, Wet Texas Intermediate nosedived below zero, sending the market into a frenzy. The frenzy ended a day later when WTI rebounded to positive territory. Now, the Commodity Futures Trading Commission has issued a report on the unprecedented event. Still, it has failed to answer many questions. The report identified three […]
Progress in vaccine development and expectations that OPEC+ will decide in less than two weeks to roll over the current cuts for three months instead of easing them from January 2021 give bulls hopes that the oil market will regain some semblance of a balance next year, pushing prices higher. Currently, the general consensus among […]
