Oil prices soared on Monday as optimism around demand grew, but rumors that OPEC+ is considering boosting its oil production in August sent prices lower on Tuesday morning Chart of the Week – Coal stockpiles declined by 16 million tons in February 2021, the largest inventory decline since July 2011. – Typically, coal stocks decline in the summer months, when coal demand surges. – Rising natural gas prices in late 2020 and early 2021 have also increased coal demand, with coal generation up 16% in December 2020 and January 2021, from a year earlier. Market Movers – The Biden administration is considering a ban on polysilicon from Xinjiang, China over the use of forced labor. Solar stocks trade mostly lower on Monday, with Sunrun (NASDAQ: RUN (4.39%)) down 4.7% during midday trading. – Devon Energy (NYSE: DVN (-0.21%)) announced new emissions targets, including net-zero targets by 2050 for Scope […]