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Oil prices jumped 1% on the first day of trading of the new year

January 4, 2022
Recap: Oil futures ended higher on Monday, supported by tight supply, a strong U.S. dollar and hopes of a further demand recovery in 2022, despite OPEC+ looking set to agree to another output increase and persistent concerns about how rising COVID infections might affect demand. ... Read More
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Oil futures settled higher on Thursday

December 31, 2021
Recap: Oil futures settled higher on Thursday as concerns about the impact the omicron variant will have on the global economy begin to wane and on signs of falling inventories helped to support year-end buying. Oil prices were lower on the opening as S&P Global Platts, citing re ... Read More
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Both Brent and WTI traded at their highest level in a month after the release of the EIA report

December 30, 2021
Recap: Oil futures steadied on Wednesday, after government data showed U.S. crude and fuel inventories fell last week, but concern that rising coronavirus cases might reduce demand weighed on prices. Both Brent and WTI traded at their highest level in a month after the release of ... Read More
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 WTI gained for the fifth straight session

December 29, 2021
Recap: WTI gained for the fifth straight session, but fell from session highs, as investors placed bets that the omicron variant of coronavirus would have only limited impact on economic growth. Oil futures were up by almost 2% after the U.K. said that it would not impose any fur ... Read More
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Oil futures rose to their highest level since November

December 28, 2021
Recap: Despite surging cases of the Omicron coronavirus variant, oil futures pulled out gains on Monday, rising to their highest level since November on hopes that there would be a limited impact on global demand in 2022. Brent for February delivery added $2.46, or 3.2%, to settl ... Read More
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The oil market has wavered in recent days over how seriously to take the threat of another slump in fuel demand

December 27, 2021
Recap: Oil futures extended their gains in a lightly traded market on Thursday on signs that the worst effects of the Omicron variant might me more containable than previously feared, even as countries imposed travel restrictions on surging infection levels. The oil market has wa ... Read More
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The EIA reported a 4.7 million barrel draw in U.S. crude oil inventories

December 23, 2021
Recap: Oil futures extended their gains on Wednesday after the EIA reported a 4.7 million barrel draw in U.S. crude oil inventories and as traders shook off worries about the likely hit to economic activity from the spread of the Omicron variant of coronavirus. The oil market's r ... Read More
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Tuesday’s higher prices follows a drop of nearly 6% over the last two sessions

December 22, 2021
Recap: Oil futures settled higher on Tuesday, following two straight days of losses ignited by fears the spread of the Omicron variant of COVID-19 would slice into demand as new lockdowns and travel restrictions are put in place to slow the rising cases of new infections. Tuesday ... Read More
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Prices fell almost 7% during the trading session and hit their lowest level in three weeks

December 21, 2021
Recap: Trading in oil futures was volatile on Monday, with prices falling almost 7% during the trading session, hitting their lowest level in three weeks. Surging cases of the Omicron variant in Europe and the U.S. raised concern among traders that new restrictions to combat its ... Read More
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Omicron variant of COVID creates uncertainty and pushes oil prices lower

December 20, 2021
Recap:  While demand has been recovering from pandemic lows, the threat of new lockdown measures and travel restrictions due to the omicron variant is hanging over oil markets as supply from OPEC+ and elsewhere rises, sending crude oil lower on Friday. So far health officials hav ... Read More
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