YGRN - Oil sentiment goes into reverse on demand worries Shell writedown

Just when things were starting to look better for black gold, with WTI transitioning to $50/bbl resistance, a series of announcements over the weekend showed crude investors that they're not out of the woods just yet."The oil market has been on a bull trend in the past month or so, ignoring negative factors, amid an optimism that a widening vaccine rollout would revive global growth, but investors' rosy expectations for 2021 have suddenly vanished due to a new variant of the virus," said Kazuhiko Saito, chief analyst at commodities broker Fujitomi.It has led to several countries in Europe and elsewhere to block travel from the U.K., while London and southeast England imposed an emergency lockdown through Christmas in an attempt to curb the spread.Also weighing on the industry... Royal Dutch Shell ([[RDS.A]], [[RDS.B]]) said it would write down the value of oil and gas assets by $3.5B-$4.5B, bringing total impairments

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Oil sentiment goes into reverse on demand worries, Shell writedown