Crude supply ‘dwarfed’ by cuts in demand: oil watcher

The oil industry’s inroads to cutting supply are “dwarfed by the by the cuts that we’ve seen in demand,” even as states have re-opened their economies amid the pandemic, says one oil expert.

“We’re still running a surplus in supply,” Stephen Schork, The Schork Report Editor told Yahoo Finance.

“There simply is not enough demand,” he added.

Concerns about an uptick in coronavirus cases and an inventory buildup sent oil prices lower on Wednesday. U.S. crude stockpiles increased by a higher-than-expected 1.4 million barrels last week, according to data from the Energy Information Administration (EIA).

“What really scared the market with today’s EIA report, is that we saw a significant rebound in crude oil production on the domestic side,” said Schork.

What’s worse, says Schork, is that the U.S. is technically already in peak driving season.

“We’re only looking at maybe 8 or 9 more weeks of peak demand, and

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$30,000 a week RV rentals seeing ‘unbelievable’ demand

Forget Italy or the Maldives. This summer it seems everyone is hitting the open road. RV dealers across the country are reporting high demand as people look for a way to travel and stay socially distant.

The RV lifestyle can be an affordable alternative to booking flights and hotels, but there’s a whole luxury RV subset that that’s anything but economical.

“It’s kind of a world that most people are not familiar with, unless you just happen to pass one on the road on vacation. But, these things are well over $2 million in value,” Jer Goss, the CEO of luxury RV company Goss RV told Yahoo Finance’s The Final Round. “It’s a large apartment. The walls extending create a lot of extra space on the inside. It’s basically a luxurious home on wheels.”

Take the Prevost Legendary. It’s a 45’ foot RV with 3 televisions that rents for $3,500

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‘Robinhood is not behind the rally,’ Barclays says as retail demand surges

Unemployment may be at 13.3% — and maybe even up to 5 percentage points higher — but retail investors, the regular folks of the investing world, are  jumping into the market, channelling their inner Warren Buffett to be greedy when others are fearful.

Many narratives have emerged both on Wall Street and in the financial media that these new investors, using zero-cost brokerages like Robinhood to trade stocks, could be joining the Federal Reserve and the government’s coronavirus response in pushing the stock market up.

But in a research note circulated to clients Friday, Barclays said no, “Robinhood is not behind the rally.” Using the popular Robintrack database that offers insight on most popular positions and changes, analysts from Barclays Investment Sciences wrote that since March 2020, when the market bottomed out, stocks have generally done worse when Robinhood users get interested. 

“We have seen the opposite of the conventional

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Demand for fractional shares booms as stock market surges

If you wanted to throw $200 into Amazon stock (AMZN) a few years ago because you saw a UPS guy with nothing but brown boxes with blue tape, you’d have been annoyed. 

The stock, which cost $1,700 per share two years ago and is over $2,600 now, had a sticker price of that of a carbon-fiber bicycle or a month or two or three of rent, depending on where you live.

But last year, popular stock-trading apps Robinhood and SoFi started giving investors the chance to buy less than a single share of stock, something called “fractional” or “partial” shares. Though these products can have a few limitations, they allowed anybody to buy a stock based on a dollar amount. (Well, not anybody; Robinhood has a waitlist with over 1 million people.)

This spring, fractional shares have been extremely popular as new investors have jumped to own shares — or

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Demand for $100,000-plus RVs soar after the COVID-19 pandemic: Thor Industries CEO

Motorhome manufacturer Thor Industries is driving quickly away from a challenging first quarter at the hands of the COVID-19 pandemic to a much brighter summer as people look to take vacations, but do so inside their own personal confines.

“The last four weeks has been an A-plus. Just the retail demand has picked up tremendously over the last four weeks,” said Thor Industries CEO Bob Martin on Yahoo Finance’s The First Trade. Martin said demand has been broad-based, ranging from entry-level models priced at around $100,000 to expensive offerings nearing $800,000.

The company has also welcomed first-time owners into the motorhome life — Thor told investors this week people are buying motorhomes in part to work from home this summer, while also enjoying a vacation.

Martin’s comments are welcome news to Thor’s investors.

Damon Motor Coach, a subsidiary of Thor Industries, Inc., displayed it’s new Avanti, a 31.5-foot-long, Class A

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