NRGO News and Press, Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E NRGO From 11/09/20

The election and US crude oil policy in 2021. The price action in crude oil shares was counterintuitive over the past four years. The regulatory environment starting in 2021 will reflect the election results- Georgia becomes critical. Bullish price action in crude oil is possi...

I retain my call stated in the Q4 outlook, published September 21, 2020, for oil, treasury and equity prices to decline with the USD rising. Thus far in Q4, I am correct on oil and Treasury yields. Largely flat to slight miss currently on equities and the US dollar. The Fed cannot...

Oil prices rebounded this week but remained below the $40 barrier. Prices have remained under pressure since crashing to their lowest since early June the previous week. Global oil markets remain under pressure from escalating concerns about slow pace of oil demand recovery as COV...

August's US production dropped by 401 kb/d to 10,579 kb/d from July's output of 10,980 kb/d. According to the October DPR report, LTO oil and conventional oil output bottomed in May 2020 at 6,883 kb/d. The STEO provides projections for the next 13-24 months for US C + C and NGPLs ...

We review EIA's Weekly Petroleum Status Report for the week of October 23, 2020. Crude inventories decreased by 1M barrels (excluding SPR release) and petroleum products decreased by 6.2M barrels for an overall draw of 7.2M barrels. Lockdowns in the EU/UK likely to impact demand a...

A retest of the March low in the .67 area (pink band below) is likely as recession and an equity bear market continue into 2021. There is no more monetary cavalry to rescue zombie borrowers and highly levered asset holders. Lower asset prices are essential in restoring attractive ...

Although oil prices weakened last week, they remain anchored in the low $40s. Analysts attributed the decline to a somewhat weaker demand outlook after US gasoline inventories increased steadily. The market has become somewhat inoculated to Libyan supply issues because of the ongo...

COVID cases on the rise in developed countries are causing the market to turn sour on oil demand recovery hopes. US has seen COVID case counts steadily rise since early September, but implied US oil demand has reached the highest level since COVID started last week. This will be d...

In a relatively civil debate following a turbulent first faceoff, President Trump and former Vice President Joe Biden traded some barbs last night over the economy.Trump said Biden would "destroy the oil industry" after the latter talked up plans about a "transition to renewable energy over t...

Commodities giveth and taketh away. Russia pours cold water over OPEC-led curtailments. And we hate to say we told ya so, but we told ya so. Though, to be fair, it is 2020 so anything can happen. For further details see: The Daily Dose: Deck Stacked Against Crude