16 Nov 2020

JBC in the Media - OPIS

Funds Get Bullish in Europe Futures, Options on Vaccine, Biden Victory News

"'Energy markets had a fantastic week on the back of the U.S. presidential election being called for Biden and news of the Pfizer vaccine's apparent efficacy,' said Philip Jones-Lux, energy market analyst at JBC Energy.

'As such, the bullishness in crude and distillate contracts can likely be explained more through the lens of the broader market than from anything strictly oil fundamentals related. With Brent markets now weakening once more, we would expect markets to pare some of the optimism of recent days/weeks as we move through the rest of the month,' Jones-Lux added."