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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (96598)	10/27/2020 3:01:09 PM
From: Goose94	Read Replies (1) \| Respond to of 202704

Crude Oil: U.S. Meanwhile, fading hopes of a stimulus and the restart of Libyan oil production also weighed on the market. “Demand weakness is definitely the biggest worry and problem in the market right now,” said Bjarne Schieldrop, chief commodities analyst at SEB AB. “Supply is still fairly contained and controlled even with Libya coming back into the market.” Prices were up slightly in early trading on Tuesday. On Monday, OPEC’s Secretary-General admitted that the recovery in demand is delayed due to the pandemic. “We were hopeful the second half of 2020 would begin to see a recovery,” Barkindo said. “Unfortunately, both the economic growth and demand recovery remain anaemic at the moment due largely to the virus.” The outlook may lead to an extension of the current arrangement, rather than easing off the cuts as scheduled beginning in January.