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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (101793)1/24/2021 6:15:53 AM
From: Goose94Read Replies (1) of 203365
 
Crude Oil: Energy Shares Plunge As Oil Rally Comes To A Halt

Crude Oil posted some losses at the close of the week, with Brent dipping back below $55 per barrel and WTI down below $52. More travel restrictions in Hong Kong, Shanghai, and the UK led to demand pessimism, and a temporary jump in the dollar also weighed on crude.

OPEC’s secretary general said that the group will seek to strengthen its relationship with the Biden administration, although thorny questions over the Iran nuclear deal and climate change loom.

The Biden administration halted new leasing on federal lands for drilling for 60 days. The move may have little practical impact as the industry has stockpiled leases ahead of expected restrictions. Reuters says companies have enough permits to last for years.
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