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Daily (07.06.2021): Brent crude approached $72 a barrel on Friday amid prospects of solid demand and OPEC+ supply discipline
Crude oil futures increased on Friday, with Brent crude approaching $72 a barrel for the first time since 2019 amid prospects of solid demand and after OPEC+ has decided not to change its production planning for July, and instead will limit itself to a continuation of the previously decided gradual increase. Hence, Brent crude rose by 0.8% to settle at $ 71.89 a barrel. Meanwhile, U.S. WTI crude moved 1.2% higher at $69.62 a barrel.
read more... 07/06/2021
Daily (03.06.2021): Brent crude hit a nearly two-year high on Wednesday amid improving demand prospects
Oil prices continue to rise on Wednesday as expectations that global demand will increase, nourished by traders’ optimism. Moreover OPEC+ group decision to stick to their plan to gradually restore supply lent further support to prices. Thus, Brent crude posted a 1.6% gain to settle at $71.35 a barrel, hitting its highest level in nearly two years. At the same time, the American WTI rose by more than 1.6% to end $68.83 a barrel or its highest level since 2018.
read more... 03/06/2021
Daily (02.06.2021): Oil prices continue to climb, with Brent above $70 a barrel amid as OPEC+ sticks with plans to raise output
Crude oil futures extended gains on Tuesday as cartel OPEC+ agreed at its latest ministerial meeting to increase output as planned over the next two months. Hence, Brent crude increased by 93 cents, or 1.3%, to settle at $70.25 a barrel. U.S. WTI crude rose by 1.2% to end at $67.72 a barrel.
read more... 02/06/2021
Daily (28.04.2021): Strong demand, cold weather and strong fuels market provided support to British gas prices on Tuesday
Crude oil prices rose on Tuesday despite OPEC+ decision to increase output slightly from next week and surging coronavirus infection rate in India. Hence, Brent crude increased by 1.2% to settle at $66.42 a barrel. Meanwhile, U.S. WTI crude soared by 1.7% to close at $62.94 a barrel.
read more... 28/04/2021
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OPEC+ sticks to plan to ease crude oil output cuts from May 1
OPEC, Russia and their allies will stick to plans for a phased easing of oil production restrictions from May to July amid upbeat forecasts for a recovery in global demand and despite surging coronavirus cases in India, Brazil and Japan.
read more... 28/04/2021