Oil Prices Fall As Bearish Sentiment Returns

Oil prices fell on Tuesday as the Suez Canal was cleared and concerns about global bottlenecks eased. Traders are now focused on the upcoming OPEC+ meeting, which most observers believe will result in an extension of cuts, and the impact of Covid-19 on oil demand in Europe. Chart of the Week -    Annual spending by U.S. utilities on transmission has increased from $9.1 billion in 2000 to $40 billion in 2019.-    The increase includes both new investment and an increase in opex costs. -    One example:…