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Page added on February 6, 2021

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Oil Up, “Up and Away” Over Positive Signs of U.S. Economic Recovery

Business

Oil was up Friday morning in Asia to its highest levels in year, ending the week on a strong note over producers’ commitment to continued supply cuts and positive signs of U.S. economic recovery.

Brent oil futures rose 0.41% to $59.24 by 11:02 PM ET (4:02 AM GMT) and WTI futures rose 0.73% to $56.64.

Hopes that a $1.9 trillion stimulus package proposed by U.S. President Joe Biden in January would be passed soon, as well as stronger-than-expected orders for U.S. goods in December, also boosted investor sentiment.

“Organization of the Petroleum Exporting Countries and allies, or OPEC+, discipline has been a real positive,” CMC Markets chief market strategist Michael McCarthy told Reuters. He was referring to the cartel’s decision to continue the supply cuts that have helped bring global crude oil stockpiles down.

“And then when we have signs of better economic growth, then it’s up and away (for prices),” McCarthy added.

Also boosting the market is Chinese demand for crude oil, with industry tracking indicating that two tankers of North Sea crude oil are heading to China for March 22 and March 24, Axi global market strategist Stephen Innes told Reuters.

“When demand drives commodity prices, it has a more bullish impact and leaves a more lasting reflection on price action,” Innes added in a note.

Yahoo



41 Comments on "Oil Up, “Up and Away” Over Positive Signs of U.S. Economic Recovery"

  1. DT on Sat, 6th Feb 2021 11:43 am 

    Not to worry here is some more clean green sustainable, renewable, transitioning, energy at work in Europe for cloggie to consider. https://www.youtube.com/watch?v=UdI7e_ILN6A

  2. Cloggie on Sat, 6th Feb 2021 12:07 pm 

    “Not to worry here is some more clean green sustainable, renewable, transitioning, energy at work in Europe

    Those are pictures from shithole country Colombia.lol

    Apart from energy, geography isn’t your strong point either. What ARE you good at?

    https://www.usnews.com/news/articles/2015/10/16/us-students-are-terrible-at-geography

    “U.S. Students Are Really Bad at Geography”

  3. DT on Sat, 6th Feb 2021 12:23 pm 

    OOps my bad Cloggie, But you do have to admit that the solution in the video is clean and green. Perhaps Europe can learn something from our south American friends?

  4. Cloggie on Sat, 6th Feb 2021 12:42 pm 

    “Perhaps Europe can learn something from our south American friends?”

    Technologies from the ever more swarthy American continent tend to be a little backward, no thanks.

    How about this renewable technology from my hometown Eindhoven, like the solar car, that can drive 12.000 km/year in Dutch solar conditions (admittedly, not in the winter):

    https://www.youtube.com/watch?v=bSbWwn_YCr8

    The car has gone into production:

    https://deepresource.wordpress.com/2020/06/06/lightyear-one-the-dutch-answer-to-tesla/

    “LightYear One – The Dutch Answer to Tesla”

    That project was born from the activities of Solar Team Eindhoven in the global Australian World Solar Challenge, which Eindhoven won twice:

    https://www.youtube.com/watch?v=x6Nl2tBWuLk

    Top speed 100 kmh on (Australian) solar radiation only.

  5. DT on Sat, 6th Feb 2021 12:55 pm 

    Cloggie that is a fascinating concept car. Keep in mind however that the word concept does not make it practical. How much would it cost?

  6. Cloggie on Sat, 6th Feb 2021 2:41 pm 

    How much would it cost?

    DT, I own one for your information. And it gets me everywhere I need to go on pure, 100% sunlight. Where do I go you never asked or showed any indication you cared in the least.

    My Lightbeer gets me to the church, to the gov’t office to pick up my checks and apply for more assitance. It also whisks me to the hopital when my bowels start acting up. Which occurs more often than you would ever imagine. And most importantly, it gets me there, and back. to attend all the protest rallies my busy schedule demands of me. I am in great demand, often as keynote speaker at many prominent rallies. Such as 4 star. gilded events like these.

    https://freerepublic.com/focus/f-news/3904361/posts

    Without my Lightbeer solar car, I would still be stuck in my gas-powered mobiliity chair, staring at my laptop 22 hours a days and shareing my vast wisdom and technical knowhow with the sneering idiots here, that describes almost all of you in case you didnt know already.

    Trump 2024!

    He promises to buy Lightbeer cars for everyone that votes for him. So get registered and vote early and as many times as you can get away with and not get caught. Trump is a friend of enviroment just like he is a friend of the MIC and Isreal. How does he reconcile these seemingly contractdictory positions? The same way I do, I just ignore them.

    I miss him already.

    But I’ll never miss my Lightbeer solar-powered autonomous car. Im going to buy two and you shoudl too.

  7. makati1 on Sat, 6th Feb 2021 3:33 pm 

    Cloggie, does your solar bike get you around that postage stamp country when it is dark for a few days of winter? After all, you can bike across the flatland Netherlands in a few hours. “Delusions Are Us!” is Cloggie’s motto. LOL

    BTW: 12,000 mi. is the unassisted annual solar limit according to the article. That would provide about 1/4 of the mileage I would need in the US.

  8. makati1 on Sat, 6th Feb 2021 3:35 pm 

    The US is NOT recovering by any stretch of the imagination. The USMSM propaganda machine can post any number they want but the fact is that most Amerikans (and other Western countries) are slipping into poverty and the unemployment numbers are so fake…just like the Covid lies. The ‘Reset’ will fail, but it will destroy many millions of lives first.

    So much bullshit in the West that they could have the most fertile soil, if only it were physical shit. LOL

  9. Outcast_Searcher on Sat, 6th Feb 2021 3:54 pm 

    makati1: Your usual POS nonsense, bereft of facts, of credible cites, or of ANY cites.

    Like Musk or Trump, I believe everything you say! /s LOL

    Meanwhile in the real world, your ilk has been dead wrong since the 70’s, and isn’t looking any better, outside from your tiny delusional mind.

  10. Duncan Idaho on Sat, 6th Feb 2021 4:33 pm 

    Former Trump and GOP Aide Charged With Distributing Child Porn

    At least our repug friends are good at something—–

    https://www.thedailybeast.com/former-trump-and-gop-aide-ruben-verastigui-charged-with-child-pornography-offenses?ref=home

  11. makati1 on Sat, 6th Feb 2021 5:31 pm 

    Outcast, I used to post all the refs, but no one read them so why bother. If you have an intelligent, open mind, you know that what I post is true. If you are brainwashed, you will just deny and try to make excuses for not being intelligent and open minded.

    I grew up in a much different Amerika. There were real freedoms then. A real economy. Real news with opposing viewpoints. That was over in the 70s when the dollar went from gold to toilet paper. Real unemployment is well over 10% in the US, and there are claims that it is really about 25% or higher. Poverty is growing. So be it. Well deserved by a country that has plundered the world for centuries.

    https://www.msn.com/en-us/money/markets/us-suffers-sharpest-rise-in-poverty-rate-in-more-than-50-years/ar-BB1d4QoE
    https://www.thebalance.com/what-is-the-real-unemployment-rate-3306198
    https://www.forbes.com/sites/eriksherman/2020/08/07/whats-the-real-unemployment-rate-102-or-188/?sh=448782761c2a

    I watch the Amerikan freak show from far shores, where there is still freedom, no longer found in Amerika, or even most Western countries. I made a great decision in 2008 and never regretted it. A beautiful sunny day here in the Philippines. The flowers are blooming and the birds singing. pass the popcorn. A new day is beginning. ^_^

    BTW: Refs for you to ponder… https://www.zerohedge.com/personal-finance/americans-ditch-citizenship-record-numbers-amid-pandemic

    AND … https://www.zerohedge.com/geopolitical/russias-sputnik-v-covid-vaccine-surprise-global-hit Sputnik V, my choice, IF I am required to get a jab. ^_^

  12. OutcastPhilosopher on Sat, 6th Feb 2021 6:12 pm 

    @makati

    Yeah the US is a dump with no future except to be tossed in the trashbin of history

  13. IAgree on Sat, 6th Feb 2021 7:00 pm 

    Canada,Quebec and US need to be crashed on ground, No choice. I agree. I am committed to trashing Quebec,Canada and US on the ground. I love watching of gasoline going up in Quebec.

    I still can not get over the fact that you spied on me, an probably still doing it. You probably spy on the DNS server of my internet provider and order an full investigation on me without any good reason. Enjoy dying fuxkers

  14. WeNeedMoreDeath on Sat, 6th Feb 2021 8:54 pm 

    You fucking politicians, does not mater what nations, are so stupid. Everything you fuckers touch you destory. There is really no other option, lets the system crash down and hope that a lot of stupid people, like politicians, die. It is the only way. stupid pieces of dog shit.

    https://www.youtube.com/watch?v=0XMDfGtKsxI

  15. KarmaISComingForYouBidet on Sat, 6th Feb 2021 9:09 pm 

    Look at this fucker. I though the US was the beacon of light and wisdom. Should the US working on a way to tell the population about peak oil without them freaking out and destroying everything. I hope you have a miserable life bidet, you cause so much pain in Ukraine, you deserve 3 times the pain for what you did there. This useless rat face have no idea what he is doing. Typical useless politician we find everywhere around the world, plan stupid mentally defective people.

    https://www.youtube.com/watch?v=-GRkrcNAyQ4

  16. BidetIsCartoonCharacter on Sat, 6th Feb 2021 10:00 pm 

    This is from The News Junkie’s Cartoons
    Bidet is the cartoon. This is subtle joke. Well done. Everyone is laughing at you USA.

    https://www.youtube.com/watch?v=-GRkrcNAyQ4

  17. BidetIsAJoke on Sat, 6th Feb 2021 10:04 pm 

    Wrong link above; Here is the correct one:

    https://www.youtube.com/watch?v=HTOJWkYeBNM

  18. USAIsAJoke on Sat, 6th Feb 2021 10:15 pm 

    Russia is safe now.

    https://www.youtube.com/watch?v=_Vg0nHnVx-8

  19. OstieDeBidetAMerde on Sat, 6th Feb 2021 10:22 pm 

    Ostie de christ de tabernac de Bidet a merde.

    The Most Popular President Ever is getting ‘Dislikes’ on YouTube.

    https://www.youtube.com/watch?v=h2ASC_OCucA

  20. ListenWithHeadPhoneOne on Sat, 6th Feb 2021 10:32 pm 

    You have to listen with head phone. No so bad as guitar work

    https://www.youtube.com/watch?v=wyOtCec4tY8

  21. BidetDidNotStealTheElection on Sat, 6th Feb 2021 10:56 pm 

    Bidet did not steal the election with the help of Barack Obama and Mike Pence is a religious man. Yeah Sure.

    https://www.youtube.com/watch?v=xT2m3xWjStc

  22. ItOverBetterAcceptIt on Sat, 6th Feb 2021 11:02 pm 

    I agree with StarvingLion. It is game over. Nothing can be done other then prepare to die. We are 15 year to late. Just to build a low energe civilisation it will take something like 15 years to 20 years. This is the fault of Obama and Bush

  23. BarackIsATraitorDeserveDeatlhPenalty on Sat, 6th Feb 2021 11:06 pm 

    Barack Obama is a traitor and deserve death penalty. Put me in charge and I will sign his death paper.

    https://www.youtube.com/watch?v=_mo-7qlc1uY

  24. USEmpireIsDead on Sun, 7th Feb 2021 12:16 am 

    Event US citizen, know that US empire has died and the US is Banana republic. Everyone is laughing at you USA.

    https://www.youtube.com/watch?v=RyKAWYc29VE

    Wait until repugnant bitch Harris take over

  25. StupidUselessAnalysisFromMe on Sun, 7th Feb 2021 1:21 am 

    StarvingLion:
    The high laws of the federal reserve hoax are the laws of thermodynamics where everything must diffuse, decay and dissipate. Its quite obvious that they’re pretty much worthless for generating electricity because, for one reason, they cost too much. They have to pump billions and billions of dollars into them and they hardly produce enough electricity to justify their existence, let alone break even

    ——————————————-

    I am quit good at guessing the future by looking at different variable. I don’t see how we will make it pass 2023. Most likely almost everyone on earth will be death. Especially if you factor global cooling.

  26. Cloggie on Sun, 7th Feb 2021 2:39 am 

    “Cloggie that is a fascinating concept car. Keep in mind however that the word concept does not make it practical. How much would it cost?”

    The first batch of 150 cars went away for 120k euro per piece or so. So what? The first solar cells applied in the US space program costs $40k, now a few buck.

    The LightYear One is a simple e-vehicle, with a few m2 of solar cells glued to it. Those solar cells, worth a couple of hundreds, eliminate the need for charging worth 12,000 km, slightly less than the distance an average Dutch driver drives. That’s a mighty quick win.

    Makati says: “BTW: 12,000 mi. is the unassisted annual solar limit according to the article. That would provide about 1/4 of the mileage I would need in the US.”

    The world isn’t about you, even if you would love to think it is. The average distance an American drives annually is 13,500 miles. In the Netherlands it is 13,000 km. In the summer it means free driving, in Australia or Africa, virtually all year.

  27. Cloggie on Sun, 7th Feb 2021 8:51 am 

    Battery storage prices approaching $100/kWh.

    For 2030 further price decay to be expected towards $58/kWh

    https://about.bnef.com/blog/battery-pack-prices-cited-below-100-kwh-for-the-first-time-in-2020-while-market-average-sits-at-137-kwh/

    For a home, 24-hour storage of 10 kWh battery more than suffices. Price $600,- (2030), eliminating the need for grid feed-in.

  28. Duncan Idaho on Sun, 7th Feb 2021 11:56 am 

    Rachel Maddow and MSNBC win $258,000 in attorney fees after beating OAN in court

    (Reality is kicking our wingpawn friends ass)

  29. Duncan Idaho on Sun, 7th Feb 2021 12:01 pm 

    Mental health expert explains why Trump must be convicted

    (All repugs have mental issues, so I don’t know why this is special)

    https://www.alternet.org/2021/02/donald-trump-impeachment/

  30. DT on Sun, 7th Feb 2021 1:46 pm 

    “Battery storage prices approaching $100/kWh.”

    Cloggie does that price include the cost of recycling the batteries? What about environmental costs for the manufacturing? Or are all those costs externalized on to the general public and biosphere?

    https://alteredsteel.com/ev-batteries-green-alternative-or-recycling-nightmare/

  31. DT on Sun, 7th Feb 2021 1:58 pm 

    Cloggie this is another video addressing the issue of battery recycling and disposal.

    https://www.youtube.com/watch?v=oKFOqMZmuA8

  32. ThingsAreMoreComplicated on Sun, 7th Feb 2021 3:13 pm 

    I was browsing YouTube going from one random video to another one. So I find this site that looks like conspiracies theore web site. They give so internet referencs. This covid things seems more complexes then I thought at first.

    https://truth11.com/2021/01/24/guantanamo-bay-detention-camp-arrests-indictments-and-executions-for-thousands-of-new-ex-elite-prisoners-official-documents/

    That would explain of lots of things if this was true

  33. ANobleWarriorHeMightBe on Sun, 7th Feb 2021 3:24 pm 

    If this is true, it means that Trump has the heart of a warrior, a noble quality.

  34. makati1 on Sun, 7th Feb 2021 4:02 pm 

    Cloggie, $100 per kilowatt hour? We use about 30 kilowatt hours per day here in our small home and no heating required, just AC/cooking/ laundry/lighting/etc.. That equates to $3,000, not $600. Add in the solar system, replacements, etc. That is very expensive electric even here where a kilowatt hour costs about $0.25. We can wire in a gas generator for about $1,000 that does the same job and last at least as long as any battery. And, no, the price will not come down, it will grow into $200 and up. Economy of scale will not apply in a world running out of everything but people.

    As mentioned above by DT, you ignore the pollution and outside expenses that the taxpayer (you) pays for one way or another. Batteries will NEVER scale up to practical use. The world is already stretched for the resources just to keep existing systems going. The future supply will be worse, much worse. Pass the popcorn, the unicorn farts are exploding in techie land. LOL

  35. USCapitalVideo on Sun, 7th Feb 2021 5:09 pm 

    For people like who don’t live in the state, US capitol video.

    https://www.youtube.com/watch?v=0CLz_6pZfOM

  36. GoodLookForInfoYourself on Sun, 7th Feb 2021 5:16 pm 

    If you search long enough an YouTube, and reads a lots of comments like I did. You will find all kind of information. All of this is public if you make a effort to search for.

  37. SystemIsTooComplexToStayAliveMuchLonger on Sun, 7th Feb 2021 5:42 pm 

    OutcastPhilospher said:

    The above link has a good article about micro-chips and a number of other things that showcase just how fragile the entire system is.

    —————————————-

    Yes, South Korea is a major producers of complexed micro-chips: car onboard computer, cell phones, car electronic sensors and son on. There is already rumour of shortage of chips for main cars manufacturers. It means that could lose the ability to fix trucks that delivering foods. I don’t know, how we are going to keep this whole shit show from collapsing. Add global cooling on that, lower food yield production, and so much more

  38. DT on Sun, 7th Feb 2021 8:28 pm 

    The US capital video is the tell. This is what the powers that be wanted when the capital insurrection came about and arguably was allowed to happen. PROBLEM REACTION SOLUTION is the narrative.

    Now lets all plan a march on Washington the way Dr. Martin Luther King Jr. did in a peaceful fashion. The difference will be that we will all be corralled behind barbed wire fencing for easy control all for the safety of the officers. You know the ones that are always fearing for their lives?

  39. Cloggie on Mon, 8th Feb 2021 3:18 am 

    Cloggie, $100 per kilowatt hour? We use about 30 kilowatt hours per day here in our small home and no heating required, just AC/cooking/ laundry/lighting/etc.. That equates to $3,000, not $600. Add in the solar system, replacements, etc. That is very expensive electric even here where a kilowatt hour costs about $0.25. We can wire in a gas generator for about $1,000 that does the same job and last at least as long as any battery. And, no, the price will not come down, it will grow into $200 and up. Economy of scale will not apply in a world running out of everything but people.

    30 kWh per day? That’s 10,000 kWh per year in your “small home”?

    I have consistently 1600 kWh/year (6 times less) and I’m not missing out on anything: TV, fridge, freezer, washing machine, electric cooking, computers, appliances, the lot.

    You must be making a calculation error.

  40. makati1 on Mon, 8th Feb 2021 4:41 pm 

    You are a liar Cloggie. That is less than 5 KWH./day. But then. if you actually use those appliances and gadgets, you use a lot more than you claim. I noticed that you omitted the heating for your one room condo.

    https://www.weather2travel.com/netherlands/amsterdam/today/

    https://www.degreedays.net/

    Minus 5 degrees Celsius is cold, Cloggie. Well below freezing. Are you a liar or just stupid? Or do you think I am stupid? Does you solar system heat your house to comfortable temperatures in the winter when they are very inefficient, or nonexistent? Or do you use Russian NG to heat your hovel?

    26C here today. Comfortable temps WITHOUT electric. We can do without electric if necessary, can you? LMAO!

  41. Annoymouse on Tue, 9th Feb 2021 1:54 am 

    Wait, cloggfraud, is LYING? Whoa, bet no one here saw that coming did they?

    Ask cloggednaus here if it can prove ownership of even a moderately sized piece of ‘greentech’. It does not matter how you define the term, just ask cloggjude if owns an electic\solar\hydrogen car for example. Flying or non-flying variants either will suffice. Ask him if he planning to obtain one, or if he is on some kind of waiting list or something.

    [Spoiler Alert] He is not. He couldn’t afford one even if they were readily available [SA – they are not].

    Time for cloggjude here to follow his one and only (former) friend here, and get lost. Remember the delusional madman davy? I try not to. Anyhow, we ran him off, and now its time for you to follow his example, cloggedAnus and go be somewhere else for a change. Maybe you can sext, I mean TEXT him and you can him can hookup and talk about heat pumping each other in person. I bet he would really be into that and so would you.

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