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WTI and Brent both increased after the U.S. reported the U.S. would impose sanctions on any country continuing to import Iranian crude oil

June 27, 2018
Recap: WTI rose to a five week high, while Brent climbed to its highest level in ten days after a U.S official reported the U.S. would impose sanctions on any country continuing to import Iranian crude oil. August WTI shot to a high of $70.64, while August Brent topped the sessio ... Read More
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OPEC agreed with Russia and other oil-producing allies to raise output starting in July

June 26, 2018
Recap: Oil prices were mixed in early hour trading, with August WTI spending the overnight session trading in a sideways pattern, close to Friday’s settlement of $68.58, while August Brent slipped more than 2%, reaching an overnight low of $73.75. While all of Brent and the balan ... Read More
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OPEC members agreed to raise output but by much less than traders anticipated

June 25, 2018
Recap: Oil prices rose on Friday, with WTI experiencing its largest weekly gain since the week of April 9th, as OPEC members agreed to raise output, but by much less than traders anticipated. Although OPEC members agreed to raise output by 1 million barrels per day, this agreemen ... Read More
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It is expected that producers will agree to raise output to meet rising global demand

June 22, 2018
Recap: Oil prices slipped on Thursday ahead of Friday’s long awaited meeting between OPEC and non-OPEC members, where it is widely expected that producers will agree to raise output. August Brent slipped for the third straight session and continues to hold below the 10 and 50-day ... Read More
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There was a surprise 5.9 million barrel build in US crude oil inventories

June 21, 2018
Recap: It was another wild ride for crude oil prices, as they reacted to an array of factors, among which were the surprise 5.9 million barrel build in U.S. crude oil inventories and a jump in refinery runs, which reached 17.7 million barrel per day, just shy of the all-time reco ... Read More
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Oil prices settled down as OPEC and non-OPEC members discuss increasing output

June 20, 2018
Recap:  Oil prices opened the session trading at unchanged to slightly higher; however, the inability to break above Monday’s high sparked light technical selling, which became exacerbated by trade tensions between China and the U.S. and the possibility that OPEC and non-OPEC mem ... Read More
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Oil prices dropped as traders weigh in on tariffs on U.S. products by China

June 19, 2018
Recap:  Trading was volatile on Monday, with oil prices slipping early in the session. July WTI fell as much as 2.3%, to a session low of $63.59 a barrel, while August Brent tumbled 1.3%, to $72.44 a barrel. The drop in prices came as traders weighed in on the imposition of tarif ... Read More
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Oil prices fell for fourth straight week

June 18, 2018
Recap:  Oil prices slipped for the fourth straight week, after reaching 3-1/2 year highs in May. Both Brent and WTI opened the session trading above unchanged, but the lack of follow through to the upside put prices into a downward spiral. The down move accelerated in August Bren ... Read More
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US production reached a weekly record of 10.9 million barrels per day

June 15, 2018
Recap: Oil prices were mixed on Thursday, with Brent being weighed down by the prospect key OPEC members and nonmembers would agree to boost output at the upcoming June 22 meeting, and WTI holding onto gains due to Wednesday’s bullish EIA numbers. After an overnight stint of side ... Read More
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The EIA report showed a 4.1 million draw in US crude oil inventories

June 14, 2018
Recap: Oil prices were mixed right out of the gate, with Brent posting early gains, while WTI remained below unchanged. This scenario lasted up until the release of the EIA report, which showed a 4.1 million barrel draw in U.S. crude oil inventories. Expectations were calling for ... Read More
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