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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (93540)	9/8/2020 1:54:29 PM
From: Goose94	Read Replies (1) of 202708

Crude Oil: WTI fell sharply on Tuesday, dragged down by a broader selloff in tech stocks but also from a darkening demand outlook. Brent dipped below $40 per barrel for the first time since June. Brent’s three-month timespread has widened to its largest contango since May, a symptom of an increasingly weak market. “Today’s oil-price move is a clear sign that the market now seriously worries about the future of oil demand,” said Paola Rodriguez-Masiu, an oil market analyst with Rystad Energy. The IEA joined the growing chorus of voices who see the oil demand recovery stalling out. “It doesn’t seem like a massive stock draw seems to be happening yet,” Keisuke Sadamori, Director of Energy Markets and Security at the IEA, told Reuters. “We are not seeing a robust pickup in refining activity, and jet fuel is the big problem.”

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