Oil prices edged up Tuesday amid news from the US financial sector and stocks, news on vaccine research and development progress, and news about OPEC+ considering delays in increasing crude oil production. The news reassured the market that epidemic prevention measures will lead to a decline in energy demand.
On Thursday, international oil prices bottomed out and rebounded, benefiting from OPEC+’s possible slowdown in production increase. However,the renewed surge in new coronavirus cases in Europe and the United States, the blockage of negotiations on the US stimulus plan, and the increase in US gasoline inventories all indicate a worsening outlook for fuel demand.
Crude oil inventory data fell for two consecutive weeks. Crude oil ended its three-day downward trend, and closed higher, the highest close in nearly seven weeks. Meanwhile, the pending US economic stimulus package is expected to boost energy demand. Everyone, including the energy industry, is awaiting word on a deal.
In the European market on Friday, U.S. crude oil futures prices fluctuated down by about 1% and traded at around $ 40. A strong U.S. dollar impacted oil prices. In addition, the market was worried that the surge of new coronavirus pneumonia cases in Europe and the United States would reduce these two in the world’s largest fuel-consuming regions.
The US Commodity Futures Trading Commission (CFTC) on Friday released a report, as of October 7 to October 13 the week: AUD see more willingness to cool; to see more gold willingness to cool down, gold speculative net longs decreased by 7,916 contracts to 240,671 contracts, indicating that investors’ willingness to be bullish in gold has cooled.
Global Fuel Ethanol Market is estimates to rise with 6.40% CAGR for this market between 2017 and 2023. the Fuel Ethanol Market that is worth the $68.6 Billion in 2016 is expected to be worth the $99.0 Billion in 2023. Social awareness and government made laws are putting their pressure on the market to influence fuel sources.
Saudi Arabia shocked the world overnight Monday, launching a petroleum price war with onetime ally Russia. The result іѕ an historic drор іn оіl prices, a kind оf соllарѕе not seen since the fіrѕt Gulf Wаr іn 1991. Thе futures оn thе S&P 500 іndеx аrе also fаllіng, exceeding thе mаxіmum threshold оf mіnuѕ 5% thаt trіggеrѕ trаdіng lіmіtѕ.
The Polypropylene Catalyst Market is projected to grow from an estimated $1.2 billion in 2019 to $1.9 billion by 2027. Key companies in the Polypropylene Catalyst Market include LyondellBasell Industries (The Netherlands), Clariant (Switzerland), Mitsui Chemicals (Japan), W.R. Grace & Co., (US), and China Petrochemical (China).
This week, Durig Capital takes a look at a leading marine transportation company. Teekay Corporation provides marine transportation, storage, and vessel leasing for the oil and natural gas industry. The company’s third quarter saw increases in its subsidiaries revenues over second quarter. Here are some highlights from its third quarter results.
Teekay Tankers nearly doubled its quarterly revenues from the prior year period.
Teekay Corporation recorded adjusted cash flow from vessel operations of $19.8 million as compared to $1.2 million a year earlier.
Teekay LNG revenues increased to $123.3 million as compared to $104.3 million a year earlier.