Oil Demand Revised Down Once Again

1. Oil rallies on vaccine hopes- The oil bulls returned this week on the extraordinary news that a potential coronavirus vaccine is not only effective but could be widely available by the second quarter of 2021. - WTI surged 9% in just a few hours and seesawed the rest of the week, but now looks steady above $40 per barrel. - The rally was accentuated by the fact that investors have recently sold off oil, trading out of bullish positions. “The excessive investor skepticism, and their previous unbridled optimism, are often good counter-indicators,”…