Feb 12, 2018

What's next in oil markets

Ben Geman, author of Generate

An oil-drilling outside of Midland, Texas. Photo: Brittany Sowacke / Bloomberg via Getty Images

After last week's losses, prices remain pretty volatile, as WTI was hovering above $60 again in pre-market trading, Reuters reports.

One key data point: "Data released Friday revealed the biggest weekly jump in the number of U.S. oil-drilling rigs since January 2017, contributing to concerns about a surge in U.S. production," MarketWatch notes.

What to watch this week: In addition to the usual Energy Information Administration (EIA) data on stockpiles on Wednesday, this week brings...

  • The latest edition of the International Energy Agency's closely watched monthly oil market report lands tomorrow.
  • On Monday afternoon, EIA will show its forecast for U.S. shale production this month and in March.

Be smart: A weekend piece in Bloomberg's Gadfly analysis section says the "nightmare scenario" for OPEC would be data emerging soon that shows a cut in projected global oil demand growth, which would be the other shoe to drop after surging U.S output.

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Axios
Updated 27 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: California to independently review FDA-approved coronavirus vaccines
  4. Wisconsin judge reimposes capacity limit on indoor venues.
  5. Media: Trump attacks CNN as "dumb b*stards" for continuing to cover pandemic.
  6. Business: Consumer confidence surveys show Americans are getting nervous — How China's economy bounced back from coronavirus.
  7. Sports: We've entered the era of limited fan attendance.
  8. Education: Why education technology can’t save remote learning.
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Dion Rabouin, author of Markets
53 mins ago - Economy & Business

The 2020 holiday season may just kill Main Street

Illustration: Eniola Odetunde/Axios

Online retail and e-commerce have been chipping away at brick-and-mortar businesses over the years but the combination of the coronavirus pandemic and the 2020 holiday season may prove to be a knockout blow.

State of play: Anxious consumers say financial concerns and health worries will push them to spend less money this year and to do more of their limited spending online.

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Rebecca Falconer
3 hours ago - Health

California to independently review FDA-approved coronavirus vaccines

California Gov. Gavin Newsom. Photo: Justin Sullivan/Getty Images

California will "independently review" all coronavirus vaccines approved by the Food and Drug Administration before allowing their distribution, Gov. Gavin Newsom (D) announced at a news conference Monday.

Why it matters: The move that comes days after NAID director Anthony Fauci said he had "strong confidence" in FDA-approved vaccines could cast further public doubt that the federal government could release a vaccine based on political motives, rather than safety and efficacy.

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