In May, U.S. retailers were happy to report that since the reopening after the shutdown from the coronavirus pandemic, retail sales jumped a record high of 17.7%. The rebound in sales reflects the gradual lift on businesses after two months of stay at home orders. With the increase in consumer demand, the federal tax payments […]
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The United States has joined the United Nations and Libyan government’s investigation into the potential brokering of an unlawful sale of Libyan oil by General Khalifa Haftar. The rebel general reportedly traveled to Venezuela to discuss oil contracts to raise money for his Libyan National Army (LNA) through the sale of crude oil. Libya’s National […]
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During last week’s OPEC + meeting the group agreed to keep production cuts of 9.7 million barrels per day until the end of July. This effort has helped bolster oil prices to levels of almost double the values in April. The prior OPEC + meeting brought forth the creation of a new advisory group, the […]
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As the nation continues to navigate COVID-19, states are starting to open back up. Today in Pennsylvania, more counties are moving in to the ‘Green Phase’. The counties in the Green Phase have mitigated the risk for the 14 days required and are allowed to ‘open’ with strongly suggested guidelines from the Governor, Dr. Levine […]
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Today many states are holding their presidential primary elections amid the coronavirus pandemic. States that delayed or had made changes to their planned primary due to the outbreak, had postponed since mid-March.
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As we near the end of May, we will put behind us one of the most bullish rallies for the WTI crude oil contract in history with crude jumping almost 75% this month alone. Of course, with WTI prices currently trading at $33.33/barrel, that’s not saying much, as it is widely perceived the breakeven price […]
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As some countries begin measures to reopen and try to get back to somewhat of a normal routine again, Brazil is still fighting the spread of COVID-19. At least five oil producers have registered coronavirus cases among their employees and contractors at facilities located off the coast of Brazil.
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For the first time in 20 years, AAA has NOT issued their Memorial Day travel forecast since the economic data utilized to create the forecast has been affected by COVID-19. Even with states reopening, many Americans are choosing to play it safe and stay home. The AAA annual forecast that estimates how many people will […]
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Nearly one month ago, U.S. oil futures hit a historic moment, dropping below zero for the first time. At that time traders were scrambling to pay buyers to take off crude futures, while month end rolls were looming. This morning, U.S. oil futures climbed roughly 9% to $32 a barrel, a price that would allow […]
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I can almost guarantee that the answer to “where are you going on vacation?” will not be a “staycation” anytime soon. At this point in our stay at home orders I am sure we are all daydreaming of a trip of any sort with a pal or a confidant, so here’s the million-dollar question, will […]
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