March 1, 2021
Business News

Muted oil reaction to dual storm threat is ‘remarkable,’ Kilduff says – CNBC

Two storms are barreling toward the Gulf Coast forcing a shutdown in oil operations, but the muted reaction in oil prices demonstrates just how closely the market is tied to a global recovery from Covid-19.
“Due to the moribund demand for gasoline and diesel fuels these days, due to the pandemic, it is hard to get a rally going off this remarkable dual-storm threat, which itself is remarkable,” Again Capital’s John Kilduff told CNBC.
Marco, which is expected to make landfall first, has weakene…

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