The Daily Finance and Energy News Show 1-27-2021

https://energynewsbeat.com/2021/01/energy-news-beat-1-27-2021-crude-draws-cant-lift-prices/

Stocks fall sharply from disappointing earnings (beside Gamestop…). Boeing fell more than 4% after its earnings report showed 2020 net loss hit a record of $11.9 billion amid the 737 Max grounding and the coronavirus pandemic.

• S&P 500: -2.50%
• Nasdaq: -2.83%
• Dow Jones: -1.97%

“We’ve run up so much and this is healthy profit taking,” said John Davi, founder and CIO of Astoria Portfolio Advisors. “There has been a tremendous market melt-up in the past two months. When the market goes up parabolically, you will see speculative behaviors from a lot of investors.”

Crude Oil and Natural Gas News
Crude oil fades off after a HUGE crude draw (around 9 mm bbl). Morning crude prices reached $53.40 before settling around $52.54 at 1:36 PM MST. Natural gas prices again rises 2.2% after more cold weather

US Energy News
• Exxon proxy fight with Engine 1
• Hess Corporation Q4 earnings
• BP gets pushback from Texas on flaring

International Energy News
• Big oil cuts more internationally…
• Oil prices point to tight global supply
• India plans $41 billion to revive power