Oil Prices Near One-Month Highs Driven by Positive Demand Forecasts From IEA, OPEC
Energy stocks are set to open higher, as firm gains in equity futures more than offset a slight reversal of yesterday’s strong oil price gains. Equity indices sitting just off all-time highs are set to re-test those levels amid a strong early start to the earnings season, primarily from banks, and solid economic data. Notably, retail sales surged 9.8% in March versus an estimated gain of 6.1%, and weekly jobless claims fell to a fresh pandemic-era low of 576,000.
Scotiabank made a number of recommendation changes across its E&P coverage today...