Tag archives: WF

Oil Through the Looking Glass 16/6/20

*Covid-19 vs Supply Cuts* The tussle between bearish and bullish news continues for crude. Coronavirus cases rose to more than 8 million worldwide yesterday, with infections surging in Latin America, while the United States and China are dealing with fresh outbreaks. On the supply side the UAE energy minister said that he had confidence OPEC+ …

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The Baltic Dry Index – ray of hope or footnote in history?

COVID-19 will haunt a generation. Be it from personal loss of friends or family members, loss of employment or the loss of an investment. With nearly 8 million cases worldwide the pandemic has shown no sign of slowing down.   Global cases worldwide (source Bloomberg) Infection cases may continue to rise, creating further havoc for …

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Oil benchmarks fall on virus resurgence fears

Oil benchmarks fell about 8% last week, their first weekly declines since April, as U.S. Coronavirus cases started increasing.   Over the weekend, more than 25,000 new U.S. cases were reported on Saturday alone as more states reported record new infections and hospitalizations.   A cluster of infections in Beijing has increased concern of a …

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Oil Through the Looking Glass 15/6/20

Continuation of the Crude Slump The week losses have extended into the new week as new virus infections hit China, Japan and the United States. This raises concerns of people in the market on the return of normal demand that had previously raised sentiment at the easing of lockdown. In the US the cutting of …

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Oil Through the Looking Glass 12/6/20

Resurgence of the Virus The virus is making a comeback in the United States as the number of infections rose past the 2 million mark. This has focused minds in the market on the worry of a second wave which is pushing oil contracts to their first weekly decline in seven weeks. Asian Gasoil Cracks …

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Crude extends losses on ‘second wave’ fears

The crude market extended losses overnight as a surge in U.S. Coronavirus cases this week raised the prospect of a second wave of the COVID-19 outbreak hitting demand in the world’s biggest consumer of crude and fuel.   Traders are concerned about signs that Coronavirus cases in the U.S. are continuing to rise and topped …

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