Saturday, September 19, 2020

Oil drop is due to softening stock market, economic fears: Pickering - First play

 Here is the link. 

Sept. 8, 2020

Dollar weakness - Jet fuel demand - 

Oil's woes

- propped up by falling U.S. dollar

Poor jet fuel demand

Phillips 66, Citgo refineries in Louisiana still down

Saudis cut prices 

WTI crude down 8.5% at low

Weakest sectors:

Energy and financials

Pickerning on oil drop 

Reaction to softening stock market and economic fears

Expect WTI to be stuck in $35-$45 range for the rest of the year

Nasdaq tumbles for third day




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