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2021-06-14
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2021-06-14
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Oil holds near multi-year highs amid demand recovery
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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"T-Reuters","id":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"pubTimestamp":1623636663,"share":"https://ttm.financial/m/news/1157408170?lang=&edition=fundamental","pubTime":"2021-06-14 10:11","market":"us","language":"en","title":"Oil holds near multi-year highs amid demand recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1157408170","media":"T-Reuters","summary":"Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as in","content":"<p>Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.</p>\n<p>Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.</p>\n<p>U.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.</p>\n<p>Vehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased, driving three weeks of gains for the oil benchmarks.</p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.</p>\n<p>The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.</p>\n<p>\"OPEC+ needs to open the taps to keep the world oil markets adequately supplied,\" the IEA said.</p>\n<p>Goldman Sachs said last week it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.</p>\n<p>U.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report.</p>\n<p>It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil holds near multi-year highs amid demand recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil holds near multi-year highs amid demand recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086160438\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">T-Reuters </p>\n<p class=\"h-time\">2021-06-14 10:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.</p>\n<p>Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.</p>\n<p>U.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.</p>\n<p>Vehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased, driving three weeks of gains for the oil benchmarks.</p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.</p>\n<p>The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.</p>\n<p>\"OPEC+ needs to open the taps to keep the world oil markets adequately supplied,\" the IEA said.</p>\n<p>Goldman Sachs said last week it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.</p>\n<p>U.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report.</p>\n<p>It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157408170","content_text":"Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.\nBrent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.\nU.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.\nVehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased, driving three weeks of gains for the oil benchmarks.\nThe Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.\nThe OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.\n\"OPEC+ needs to open the taps to keep the world oil markets adequately supplied,\" the IEA said.\nGoldman Sachs said last week it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.\nU.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report.\nIt was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":185163226,"gmtCreate":1623637011965,"gmtModify":1704207491223,"author":{"id":"3575675266793793","authorId":"3575675266793793","name":"danielkzy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575675266793793","authorIdStr":"3575675266793793"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/185163226","repostId":"1122505915","repostType":4,"repost":{"id":"1122505915","kind":"news","pubTimestamp":1623635141,"share":"https://ttm.financial/m/news/1122505915?lang=&edition=fundamental","pubTime":"2021-06-14 09:45","market":"us","language":"en","title":"The Valuation of Oatly Stock Is Too Hot to Handle","url":"https://stock-news.laohu8.com/highlight/detail?id=1122505915","media":"InvestorPlace","summary":"OTLY stock has a lot going for it, but investors should wait for a big pullback i nthe name before b","content":"<p>OTLY stock has a lot going for it, but investors should wait for a big pullback i nthe name before buying the shares</p>\n<p>I believe that Swedish oat milk maker <b>Oatly</b>(NASDAQ:<b><u>OTLY</u></b>) has the ingredients, both literally and figuratively, to become very successful over the longer term. Nonetheless, given the gigantic valuation of OTLY stock, I advise investors to wait for a major pullback in the name before buying the shares.</p>\n<p>Among the strong, positive catalysts that Oatly has are soaring sales which indicate that it has strong products and backing by well-known, powerful celebrities. Also in Oatly’s corner are category strength and an environmentally friendly story that’s likely to attract many young consumers.</p>\n<p><b>Rapidly Increasing Sales and Celebrity Backing</b></p>\n<p>In 2020, Oatly’s top line more than doubled year-over-year, reaching $421 million. The huge increase strongly suggests that the company is getting many repeat buyers and benefiting from very positive word-of-mouth referrals among consumers. And those developments, in turn, suggest that the company’s products (it makes oat milk and other products derived from liquid oats) are very appealing to consumers.</p>\n<p>Three of the early investors in Oatly are American TV star Oprah Winfrey, well-known rapper Jay-Z, and “A-list” actress Natalie Portman. All of those individuals are incentivized to use their star power to help Oatly sell a huge amount of its products.</p>\n<p>Another investor in the company is former <b>Starbucks</b>(NASDAQ:<b><u>SBUX</u></b>) CEO and founder Howard Schultz. Since I’m confident that Schultz still retains considerable influence over Starbucks, I’m not at all surprised that the companies announced a partnership a couple of months ago.</p>\n<p>I believe that this alliance is huge for Oatly and OTLY stock, as the brand’s presence in Starbucks’ stores is undoubtedly greatly increasing Oatly’s exposure to the public.</p>\n<p><b>Category Strength and a Good Green Story</b></p>\n<p>Last year,sales of oat milk came in at $252 million, and it is the most rapidly increasing type of plant-based milk,<b>Nielsen</b> reported, according to<i>Kerry</i>. What’s more, research firm NPD Crest expects the latter category’s sales to climb nearly 10% 10% by the end of 20-23. So Oatly is effectively positioned in a strong subcategory within a rapidly growing category.</p>\n<p>Since I’m allergic to cow’s milk, I often go to the plant-based milk section in grocery stores. In the last year, I’ve noticed that the shelf space devoted to oat milk has increased tremendously. I estimate that oat milk now gets about 50% of the shelf space of the plant-based milk sections, versus 30% for almond milk and 20% for soy milk. (For the record, I’m a soy milk fan).</p>\n<p>Meanwhile, the company’s CEO, Toni Petersson, has stated that making oat milk generates “80% less greenhouse-gas emissions than traditional dairy-milk production does,”<i>Seeking Alpha</i> reported. Also making oat milk appealing to environmentally conscious people is the fact that producing it requires much less water than making almond milk.</p>\n<p><b>Profitability Concerns Are Overdone, but Valuation Worries Are Warranted</b></p>\n<p>Some analysts have dismissed OTLY stock because of the company’s lack of profitability. But with Oatly’s sales and gross profit both soaring (its gross profit nearly doubled to almost $130 million last year), I think that profitability is a matter of when, not if, for the company. Although higher-than-expected commodity inflation could delay Oatly’s move into the black, I nevertheless expect it to report a positive bottom line by 2023.</p>\n<p>Much more worrisome, however, is the valuation of OTLY stock. The shares are trading at 33 times the company’s sales for the 12 months that ended in March. That’s a ridiculously high valuation for a food maker that could easily encounter tremendously stepped-up competition sooner rather than later.</p>\n<p><b>The Bottom Line on OTLY Stock</b></p>\n<p>The outlook of Oatly’s business is very positive, and the company looks poised to continue to grow rapidly and enter the black within a year or two. Yet its shares’ valuation is far too high.</p>\n<p>Consequently, company-specific news and/or a stock market correction is likely to pull down OTLY stock meaningfully within the next four to six months. Therefore, I urge investors to wait for the shares to drop to the $15-$18 range before buying them.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Valuation of Oatly Stock Is Too Hot to Handle</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Valuation of Oatly Stock Is Too Hot to Handle\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 09:45 GMT+8 <a href=https://investorplace.com/2021/06/the-valuation-of-oatly-stock-is-too-hot-to-handle/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>OTLY stock has a lot going for it, but investors should wait for a big pullback i nthe name before buying the shares\nI believe that Swedish oat milk maker Oatly(NASDAQ:OTLY) has the ingredients, both ...</p>\n\n<a href=\"https://investorplace.com/2021/06/the-valuation-of-oatly-stock-is-too-hot-to-handle/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OTLY":"Oatly Group AB"},"source_url":"https://investorplace.com/2021/06/the-valuation-of-oatly-stock-is-too-hot-to-handle/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122505915","content_text":"OTLY stock has a lot going for it, but investors should wait for a big pullback i nthe name before buying the shares\nI believe that Swedish oat milk maker Oatly(NASDAQ:OTLY) has the ingredients, both literally and figuratively, to become very successful over the longer term. Nonetheless, given the gigantic valuation of OTLY stock, I advise investors to wait for a major pullback in the name before buying the shares.\nAmong the strong, positive catalysts that Oatly has are soaring sales which indicate that it has strong products and backing by well-known, powerful celebrities. Also in Oatly’s corner are category strength and an environmentally friendly story that’s likely to attract many young consumers.\nRapidly Increasing Sales and Celebrity Backing\nIn 2020, Oatly’s top line more than doubled year-over-year, reaching $421 million. The huge increase strongly suggests that the company is getting many repeat buyers and benefiting from very positive word-of-mouth referrals among consumers. And those developments, in turn, suggest that the company’s products (it makes oat milk and other products derived from liquid oats) are very appealing to consumers.\nThree of the early investors in Oatly are American TV star Oprah Winfrey, well-known rapper Jay-Z, and “A-list” actress Natalie Portman. All of those individuals are incentivized to use their star power to help Oatly sell a huge amount of its products.\nAnother investor in the company is former Starbucks(NASDAQ:SBUX) CEO and founder Howard Schultz. Since I’m confident that Schultz still retains considerable influence over Starbucks, I’m not at all surprised that the companies announced a partnership a couple of months ago.\nI believe that this alliance is huge for Oatly and OTLY stock, as the brand’s presence in Starbucks’ stores is undoubtedly greatly increasing Oatly’s exposure to the public.\nCategory Strength and a Good Green Story\nLast year,sales of oat milk came in at $252 million, and it is the most rapidly increasing type of plant-based milk,Nielsen reported, according toKerry. What’s more, research firm NPD Crest expects the latter category’s sales to climb nearly 10% 10% by the end of 20-23. So Oatly is effectively positioned in a strong subcategory within a rapidly growing category.\nSince I’m allergic to cow’s milk, I often go to the plant-based milk section in grocery stores. In the last year, I’ve noticed that the shelf space devoted to oat milk has increased tremendously. I estimate that oat milk now gets about 50% of the shelf space of the plant-based milk sections, versus 30% for almond milk and 20% for soy milk. (For the record, I’m a soy milk fan).\nMeanwhile, the company’s CEO, Toni Petersson, has stated that making oat milk generates “80% less greenhouse-gas emissions than traditional dairy-milk production does,”Seeking Alpha reported. Also making oat milk appealing to environmentally conscious people is the fact that producing it requires much less water than making almond milk.\nProfitability Concerns Are Overdone, but Valuation Worries Are Warranted\nSome analysts have dismissed OTLY stock because of the company’s lack of profitability. But with Oatly’s sales and gross profit both soaring (its gross profit nearly doubled to almost $130 million last year), I think that profitability is a matter of when, not if, for the company. Although higher-than-expected commodity inflation could delay Oatly’s move into the black, I nevertheless expect it to report a positive bottom line by 2023.\nMuch more worrisome, however, is the valuation of OTLY stock. The shares are trading at 33 times the company’s sales for the 12 months that ended in March. That’s a ridiculously high valuation for a food maker that could easily encounter tremendously stepped-up competition sooner rather than later.\nThe Bottom Line on OTLY Stock\nThe outlook of Oatly’s business is very positive, and the company looks poised to continue to grow rapidly and enter the black within a year or two. Yet its shares’ valuation is far too high.\nConsequently, company-specific news and/or a stock market correction is likely to pull down OTLY stock meaningfully within the next four to six months. Therefore, I urge investors to wait for the shares to drop to the $15-$18 range before buying them.","news_type":1},"isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185163051,"gmtCreate":1623636989573,"gmtModify":1704207491062,"author":{"id":"3575675266793793","authorId":"3575675266793793","name":"danielkzy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575675266793793","authorIdStr":"3575675266793793"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185163051","repostId":"1157408170","repostType":4,"repost":{"id":"1157408170","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"T-Reuters","id":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"pubTimestamp":1623636663,"share":"https://ttm.financial/m/news/1157408170?lang=&edition=fundamental","pubTime":"2021-06-14 10:11","market":"us","language":"en","title":"Oil holds near multi-year highs amid demand recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1157408170","media":"T-Reuters","summary":"Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as in","content":"<p>Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.</p>\n<p>Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.</p>\n<p>U.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.</p>\n<p>Vehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased, driving three weeks of gains for the oil benchmarks.</p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.</p>\n<p>The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.</p>\n<p>\"OPEC+ needs to open the taps to keep the world oil markets adequately supplied,\" the IEA said.</p>\n<p>Goldman Sachs said last week it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.</p>\n<p>U.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report.</p>\n<p>It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil holds near multi-year highs amid demand recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil holds near multi-year highs amid demand recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086160438\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">T-Reuters </p>\n<p class=\"h-time\">2021-06-14 10:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.</p>\n<p>Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.</p>\n<p>U.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.</p>\n<p>Vehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased, driving three weeks of gains for the oil benchmarks.</p>\n<p>The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.</p>\n<p>The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.</p>\n<p>\"OPEC+ needs to open the taps to keep the world oil markets adequately supplied,\" the IEA said.</p>\n<p>Goldman Sachs said last week it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.</p>\n<p>U.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report.</p>\n<p>It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157408170","content_text":"Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.\nBrent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.\nU.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.\nVehicle traffic is returning to pre-pandemic levels in North America and much of Europe and more planes are in the air as lockdowns and other restrictions are being eased, driving three weeks of gains for the oil benchmarks.\nThe Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.\nThe OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020.\n\"OPEC+ needs to open the taps to keep the world oil markets adequately supplied,\" the IEA said.\nGoldman Sachs said last week it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.\nU.S. oil rigs rose by six to 365, the highest since April 2020, energy services company Baker Hughes Co said in its weekly report.\nIt was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
