COVID-19 Response
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Crude oil futures gained for the second straight day on Tuesday

October 7, 2020
Recap: Crude oil futures gained for the second straight day on Tuesday, as Hurricane Delta intensified as it approaches the Yucatan peninsula and is headed toward the Gulf of Mexico. This comes on the heels of a strike in Norway, which has disrupted output in that region. Oil com ... Read More
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Oil futures jumped 6% on Monday

October 6, 2020
Recap: Oil futures jumped 6% on Monday, as traders weigh the prospect for another round of stimulus in the U.S. while they also monitor President Trump’s health, which is said to be improving. Also adding support is the strike in Norway, which is curtailing crude oil output, and ... Read More
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Oil futures fell on Friday following news that President Donald Trump has contracted COVID-19

October 5, 2020
Recap: Oil futures fell on Friday following news that President Donald Trump has contracted COVID-19, adding pressure to a market that has already been dipping on concerns about the number of rising cases worldwide and its impact on demand. This news sent a wave of uncertainty th ... Read More
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Further shutdowns due to the spread of coronavirus cases across the globe fueled demand concerns

October 2, 2020
Recap: Oil futures fell on Thursday, as the potential of further shutdowns due to the spread of coronavirus cases across the globe fueled demand concerns. Oil futures were sharply lower, with prices posting their lowest settlement in two-weeks. November WTI fell $1.50, or 3.7%, t ... Read More
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The EIA reported the third consecutive weekly decline in U.S. crude oil inventories

October 1, 2020
Recap: Oil futures gained on Wednesday after the EIA reported the third consecutive weekly decline in U.S. crude oil inventories. However, prices suffered their first monthly decline since April amidst rising concerns over the global spreading of the coronavirus. November WTI ros ... Read More
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Oil futures fell to their lowest level in two weeks

September 30, 2020
Recap: Oil futures fell sharply on Tuesday, to their lowest level in two weeks, as investors worried about the rising number of COVID-19 cases throughout the globe, which will surely impact demand for oil and its products. Investors were cautious ahead of Tuesday night’s first pr ... Read More
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Oil futures rose on Monday on hopes that the U.S. will roll out another stimulus package

September 29, 2020
Recap: Oil futures rose on Monday on hopes that the U.S. will roll out another stimulus package and on a possible oil worker’s strike in Norway. Gains, however, were limited as the number of coronavirus cases continue to rise and weakness in the U.S. dollar. Traders remain on edg ... Read More
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Oil futures traded mostly lower on Friday

September 28, 2020
Recap: Oil futures traded mostly lower on Friday, posting a weekly loss, as demand woes tied to the coronavirus pandemic kept a lid on prices, while signs of tighter supplies kept WTI above $40 a barrel. Trader concern remains focused on the health of the global economy, as the n ... Read More
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Oil futures rose for the third straight session

September 25, 2020
Recap:Oil futures rose for the third straight session, supported by the bullish inventory report released on Wednesday. However gains were limited, as a new wave of coronavirus cases in Europe led several countries to reinstate travel restrictions. After falling to a session low ... Read More
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The oil markets overnight and this morning were supported by bullish inventory reports

September 24, 2020
Recap: The oil markets overnight and this morning were supported by bullish inventory reports first released by API and then by the EIA. But as it appeared the bullish move was running out of steam at midday the oil markets suddenly shot up over a dollar a barrel only to quickly ... Read More
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