Posted on 03/31/2020 2:11:00 PM PDT by BeauBo
Shares of energy companies rose alongside oil futures after Chinese data showed a rebound in industrial activity, spurring hopes that the global economy could shake off the effects of the Covid-19 pandemic more quickly than feared.
U.S. crude futures rose 1.9% to $20.48 a barrel on the New York Mercantile Exchange, a day after crashing to a fresh 18-year low.
The long-delayed Keystone XL pipeline to take oil from Canada into the U.S. heartland will move forward after the Alberta province agreed to help finance the project, pipeline operator TC Energy said, as reported earlier.
(Excerpt) Read more at marketscreener.com ...
China Lies.
So we’re staying tied to China’s production. Swell.
So does Gov John Bel Edwards and Gov Cuomo.
I would have said "hoped," myself, but I'm not a urinalist...
The Permian Basin will turn the tap back on between $30-$35 a barrel.
Riiiiight-— the Chinese “data” shows an upsurge in industrial activity. What happy lying horse-shi+e! So their brokers get to cash in against fake news. What idiocy anyone would publish such utter crap.
“So we’re staying tied to China’s production.”
the whole rest of the world is too, not just us ... and it’s gonna take more than just the last three weeks to delink ourselves from PRC, it’s gonna take a few years to wean ourselves, and that is if and only if our leaders make self-sufficiency a number one economic and political priority ...
The Canada indices were well up with huge swing in natural gas, oil, and pipeline stocks. Some were up 15%. A wild swing considering oil was only up a blip and natural gas was slightly down. Are the expecting this to be the bottom for the energy commodities?
Suncor, strangely, was a winner with Canadian bitumen still under $10.00
As for China, it depends what they mean by recovery. Will China actually be in a positive GDP growth situation this year?
Who’s going to buy their crap?
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