According to Motilal Oswal, Oil rallied by 10% for the week, ending their downward trajectory that started early September and recorded their biggest weekly gain in three months.

Broker Research

Motilal Oswal's report on Energy Weekly

Oil rallied by 10% for the week, ending their downward trajectory that started early September and recorded their biggest weekly gain in three months. The main triggers were the OPEC+ meet where Saudi Arabia’s warned OPEC+ cheaters and short-sellers that helped oil prices stage their biggest weekly rally since June accompanied by supply disruptions in the Gulf Coast due to Hurricane Sally. Adding on, the announcement by Chinese policymakers that they would aim to replenish commodity inventories in 2021 is a new bullish catalyst.

Outlook

Meanwhile, rising coronavirus infections in Europe raise the specter of a return to tighter restrictions that have crippled consumption.

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First Published on Sep 22, 2020 11:51 am

Energy Weekly Report: Motilal Oswal

According to Motilal Oswal, Oil rallied by 10% for the week, ending their downward trajectory that started early September and recorded their biggest weekly gain in three months.

tags #Brokerage Recos - Commodities #Energy Weekly #Motilal Oswal