Oil came back from a sell-off that investment banks from Goldman Sachs to Morgan Stanley said was excessive and offered an opportunity to buy, with physical crude markets still showing signs of strength in the long run.
Futures in New York rose 2.4% on Friday, after a plunge of more than 7% in the previous session. While the market may have gotten too long for its own good, the recent price weakness is likely temporary as signs remain that demand is set to recover, and supplies will tighten.
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22 Mar 2021
Cenkos: Oil & Gas Sector -- alcon Oil & Gas, Premier Oil, SDX Energy, Independent Oil & Gas, Genel Energy, Jersey Oil & Gas, Canadian Overseas Petroleum, Tullow Oil, Serica Energy, Hess Corporation
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Cenkos: Oil & Gas Sector -- alcon Oil & Gas, Premier Oil, SDX Energy, Independent Oil & Gas, Genel Energy, Jersey Oil & Gas, Canadian Overseas Petroleum, Tullow Oil, Serica Energy, Hess Corporation
Falcon Oil & Gas Ltd. (FOG:LON), 6.6 | 88 Energy Limited (88E:LON), 0.2 | Diversified Energy Company PLC (DEC:LON), 1,094 | Empyrean Energy PLC (EME:LON), 0.5 | GETECH Group plc (GTC:LON), 8.5 | Trinity Exploration & Production Plc (TRIN:LON), 39.0
- Published:
22 Mar 2021 -
Author:
James McCormack -
Pages:
8
Oil came back from a sell-off that investment banks from Goldman Sachs to Morgan Stanley said was excessive and offered an opportunity to buy, with physical crude markets still showing signs of strength in the long run.
Futures in New York rose 2.4% on Friday, after a plunge of more than 7% in the previous session. While the market may have gotten too long for its own good, the recent price weakness is likely temporary as signs remain that demand is set to recover, and supplies will tighten.
....