The IEA made headlines today when it suggested that there should be no new oil and gas investments after 2021… If that were to happen – with a supply crunch already looming – the oil traders at OPC Markets would have a great time. Chart of the Week – U.S. residential energy consumption declined by 4% in 2020, despite people spending more time at home during the pandemic. – Relatively warmer weather reduced heating needs during winter months, offsetting the 2 percent increase in electricity sales. – Space-heating and water-heating are usually the most energy-intensive uses in the average U.S. home. Market Movers – BP (NYSE: BP) is in advanced talks to sell its 28% stake in a North Sea oil field. – Natural gas stocks rose in concert with prices following new weather forecasts showing hotter-than-average temperatures later this month. Nymex natural gas was up more than 5% […]