Feb 12, 2018

What's next in oil markets

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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Experimental coronavirus vaccine to be tested on humans

Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases. Photo: Win McNamee/Getty Images

The vaccine that the National Institute of Allergy and Infectious Diseases (NIAID) and drugmaker Moderna have been developing to combat the coronavirus is ready to be tested on humans, NIAID director Anthony Fauci told the Wall Street Journal.

The state of play: The rapidly developed vaccine will be tested on 20–25 healthy volunteers in April to determine whether two doses will be safe and generate an immune response to protect against infection. Results will be available in July or August, Fauci told WSJ.

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#MeToo gets Weinstein

A man carries out Weinstein's walker. Photo: Johannes Eisele/AFP/Getty Images

Hollywood titan Harvey Weinstein is now a convicted rapist, two years and four months after accusations against him helped ignite the #MeToo movement.

Why it matters: To date, #MeToo has resulted in hundreds of powerful men losing their jobs. Seven have been criminally convicted, with four others still facing charges.