Latest breaking stories, features and analysis
Crude oil prices rally ahead of presidential inauguration and stockpile data
- Crude oil prices are rallying despite the bearish demand outlook by IEA.
- China has recorded a rise in oil demand as its refinery output grew by 3% in 2020.
- Investors are eyeing the weekly stockpile data and stimulus details in Biden's inaugural speech.
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Crude oil prices soar despite projected decrease in oil demand in 2021
The International Energy Agency (IEA) slashed its global oil demand outlook for 2021, as a result of a resurgence in coronavirus infections and reiterated lockdown measures. Fundamental analysis: Slashed global demand outlook According to the updated outlook, the agency expects global oil demand to increase by 5.5 million barrels per…
January 19, 2021
Is January a good month for buying Crude Oil?
Crude oil advanced to ten-month highs last week, but the price weakened on Friday, pressured by renewed coronavirus concerns. Travel restrictions and lockdowns will keep demand for oil at low levels for a while, and all of these could send crude oil price below $50 support again. Fundamental analysis: We…
January 17, 2021
Oil prices rise amid fresh stimulus in the U.S.
Crude oil prices have continued to modestly tick higher in the past few days after the U.S. President Donald Trump signed a new stimulus bill. Fundamental analysis: Expectations for a higher demand Crude oil prices climbed on hopes that the fresh pandemic stimulus in the U.S. will drive fuel demand…
December 30, 2020
Oil, Gold, Platinum price analysis roundup
The US Congress approved a $900 billion coronavirus relief package, but Donald Trump refused to sign it. He insisted on $2,000 direct payments to Americans, and uncertainty about the US stimulus bill and coronavirus pandemic remain in focus for investors. The world still needs to face COVID-19 challenges, and some…
December 27, 2020