For years to many of us, the day after Thanksgiving otherwise known as “Black Friday” has been the unofficial start of the holiday shopping season. Consumers search ads sent by retailers to find the best deals, plan the big day in advance in hopes to score the season’s hottest items. We’ve even waited in line […]
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Yesterday, governor Tom Wolf made an announcement to order all non-life-sustaining businesses in Pennsylvania to close physical locations to slow down the spread of COVID-19. The deadline for these businesses to close was 8:00 p.m. on 3/19/2020.
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Over the weekend, Italy announced that they were planning to quarantine the northern region of Lombardy as they fought to contain the spread of the coronavirus (COVID-19). The government put measures in place, such as fines, to prevent people from entering and leaving the region until at least April 3rd. They also imposed a decree […]
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As we enter the end of our winter season in the Northeast, the mild winter combined with global oversupply fears has caused liquefied natural gas (LNG) prices to plummet and the worst may not be over.
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On the morning of Monday, January 6, 2020, WTI crude oil was nearing $64/bbl. As of 10:31 a.m. EST on Thursday, February 27, 2020, WTI crude oil was trading at $46.36/bbl. The shocking effects of the coronavirus fear continue to decimate global markets, particularly oil markets. Fortune.com aptly points out that the coronavirus has done […]
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The sharp decline in oil demand from China due to the coronavirus is causing oil cargoes to be stranded off the country’s coast and across Asia. Last week, OPEC lowered its forecast for global oil demand by nearly a quarter million barrels per day as the pandemic of the coronavirus has crippled fuel consumption in […]
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Very little price change has occurred with crude oil prices on Presidents’ Day after OPEC + has not yet decided to impose further production cuts to offset demand concerns caused by the coronavirus outbreak.
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In an attempt to curtail the downward plunge of global oil prices, Russia is considering supporting cuts among OPEC and its partners. On Thursday, Sergey Lavrov, Russia’s top diplomat, confirmed Russia’s support for production cuts following a conversation between President Putin and the King of Saudi Arabia. However, Energy Minister Alexander Novak said on Friday […]
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With global chatter circling around the latest mass scale respiratory ailment, the coronavirus, there is global glut of petroleum fuels. Like SARS, in 2003, the coronavirus is thought to spread through respiratory droplets being transmitted form one person to another (i.e., sneeze or cough). With the potential for person to person transmission being so high, […]
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China has seen a large decrease in the demand of gasoline and Jet fuel stemming from the deadly outbreak of the Coronavirus and the subsequent travel restrictions. Chinese refineries have been responsible for taking a third of all Latin American produced crude. Brazil is the largest exporter of crude into China and mainly supply the […]
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