Oil Rallies On Promises Of Economic Stimulus

Oil prices hit a four-month high on Tuesday as the promise of major stimulus packages in the EU and the U.S. counter-balanced an increase in COVID cases.Chart of the Week-    U.S. liquid fuels consumption is expected to continue to rise in the second half of 2020, but will remain below pre-pandemic levels until August 2021, according to a new forecast from the EIA.-    For the full year, the EIA sees gasoline demand averaging 8.3 mb/d, down 1 mb/d year-on-year, or a 10 percent decrease.-    Still, the EIA’s…