Home Business Is The Oil Price Rally Already Over? – OIR 080120
Is The Oil Price Rally Already Over? – OIR 080120

Is The Oil Price Rally Already Over? – OIR 080120

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Today, we will take a quick look at some of the critical figures and data in the energy markets this week.

We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy.

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Chart of the Week

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  1. The energy portion of the S&P Goldman Sachs Commodity Index (GSCI) rose more than other commodities in 2019, climbing by 22 percent.
  2. WTI closed out the year up 31 percent and Brent gained 20 percent.
  3. Natural gas was the only energy commodity to drop last year, with NYMEX prices falling by 26 percent.

 

Market Movers

  • Amazon (NASDAQ: AMZN)ExxonMobil (NYSE: XOM) and Fiserv (NASDAQ: FISV) announced the launch of a new voice experience for pumping gas, letting drivers use Alexa to pay at the pump.
  • Occidental (NYSE: OXY) is partnering with Total SA (NYSE: TOT) on a carbon capture project in Colorado, using the captured CO2 for enhanced oil recovery.
  • Laredo Petroleum (NYSE: LPI) jumped by 5 percent on Monday after it said that its production in 2019 exceeded its guidance.

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