Is the oil market in a “post-vaccine euphoria”? That’s what trading houses Vitol and Gunvor Group are signaling after oil rallied above the USD 60 / bbl mark for the first time in a year yesterday, according to Bloomberg. The expectation of a price pullback comes as fuel demand has yet to mount a real recovery, and technical indicators signal that crude is now in “overbought territory.”

TikTok wants to take on Facebook? TikTok is planning an “aggressive” e-commerce push in the US, the Financial Times reports, highlighting the app’s new products such as a tool that gives commission on any sales of products popular users share links to as well as “live-streamed” shopping, while allowing brands to show their catalogs.

Wait, what happened to the TikTok ban? Not much, after a federal judge ruled in November that the Trump administration’s attempt to ban the app was likely unlawful. It remains unclear whether the Biden administration will maintain the aggression after 18 February, when the government will be able to place new restrictions on the Chinese social media giant.

The EGX30 fell 0.7% yesterday on turnover of EGP 2.14 bn (34.1% above the 90-day average). Foreign investors were net sellers. The index is up 6.2% YTD.

In the green: CI Capital Holding (+9.4%), Orascom Investment Holding (+7.6%) and EFG Hermes (+1.9%).

In the red: Orascom Development Egypt (-2.7%), Abu Qir Fertilizers (-2.4%) and Pioneers Holding (-2.3%).

Asian shares are in the green this morning and we’re looking at a mixed open for major European exchanges and on Wall Street, where futures at dispatch time suggest the Nasdaq is opening down a hair and both the Dow and S&P will just barely break into the green at the opening bell.