Crude oil prices corrected slightly lower on Monday as the resurgence of COVID-19 cases in Japan and India set a sour tone for oil trading. The losses were limited after OPEC+ joint technical committee (JTC) has kept its forecast for growth in global oil demand this year. Hence, Brent crude slipped by 0.7% to $65.65 a barrel. Meanwhile, U.S. WTI crude eased by 0.4% to $61.91 a barrel.
read more... 27/04/2021
Oil prices continued their upward trajectory on Thursday, holding near one-month highs amid a brighter demand outlook due to bullish forecasts from the International Energy Agency (IEA) and OPEC. Positive U.S. economic data added further gains to oil prices. Hence, Brent crude rose by 0.5% to settle at $66.94 a barrel. U.S. WTI crude gained 0.5% to end at $63.46 a barrel.
read more... 16/04/2021
Crude oil prices surged on Wednesday, as the EIA weekly report showed a significant decline in US crude inventories. Moreover, encouraging demand data shared by the OPEC and IEA also lent support to prices. As such, Brent oil soared by 4.6% to $66.58 a barrel, while WTI crude jumped 4.9% to $63.15 a barrel.
read more... 15/04/2021
Oil prices continued to move in a narrow range on Tuesday after OPEC boosted its expectation for this year’s demand recovery and amid strong demand data from China. However, the upside was limited after Johnson & Johnson’s vaccine deployment has been paused due to concerns over 6 patients (out of 6.8 million) developing rare blood clots. Hence, Brent crude rose by 0.6% to settle at $63.67 a barrel. U.S. WTI crude increased by 0.8% to $60.18 a barrel.
read more... 14/04/2021
Crude oil prices increased on Tuesday, on optimism over demand recovery amid a fast vaccine rollout in the United States. Gains, however, were limited by OPEC+ members’ decision of an increase in their output. Brent oil ended 1% up at $62.74 a barrel, while WTI crude rose by 1.2% to $59.33 a barrel.
read more... 07/04/2021