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Both WTI and Brent traded higher on Monday

November 2, 2021
Recap: Both WTI and Brent traded higher on Monday on expectations of strong demand and a belief that OPEC and its allies will not release more oil than the global economy can handle. Meanwhile, China announced it released fuel reserves; however bullish traders appear unmoved by t ... Read More
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U.S. oil prices ended a streak of nine consecutive gains

November 1, 2021
Recap: Oil futures reversed early losses on Friday, garnering support on expectations that the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, would maintain production cuts. Prices have been pressured since Wednesday by a report that U ... Read More
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Oil futures rebounded after selling off early in the session

October 29, 2021
Recap: Oil futures rebounded after selling off early in the session on Thursday, as it appears to be trying to recover and resume its upside move. In WTI, the $80 area once again proved itself as a key level of support. Trading was quite volatile with prices finishing mixed on th ... Read More
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The EIA report showed a 4.3 million barrel increase in U.S. crude oil inventories

October 28, 2021
Recap: Oil futures came under pressure on Wednesday following the release of the EIA report, which showed a 4.3 million barrel increase in U.S. crude oil inventories. Analysts were expecting a 2 million barrel build.  This puts total stocks at 430.8 million barrels, which is appr ... Read More
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The EIA report is expected to show a build of 1.9 million in crude oil stockpiles

October 27, 2021
Recap: Oil futures bounced off of session lows in early morning trading on Tuesday, but lacked the momentum to recapture fresh seven year highs made on Monday. An early gain in natural gas prices sparked the day’s rally in crude oil futures, but as the dollar strengthened, dollar ... Read More
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Oil futures hit their highest level in seven years

October 26, 2021
Recap: Oil futures initially rallied on Monday, hitting their highest level in seven years, as global supplies remain tight amid rising demand as economies recover from the coronavirus pandemic that stretches across the globe. December Brent climbed as much as $1.16, or 1.4%, to ... Read More
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Friday’s close marked the ninth straight week of gains for WTI

October 25, 2021
Recap: Oil prices rebounded on Friday as China’s real estate giant, Evergrande, paid overdue interest, helping the company dodge default, lowering concerns about the company. Prices were also higher due to the easing of travel restrictions and a slow recovery in U.S. crude produc ... Read More
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Oil futures pulled back after reaching fresh seven year highs

October 22, 2021
Recap:  After reaching fresh seven year highs on Thursday, oil futures pulled back, as traders appeared to be taking profits amid concerns around global economic growth. Rising coronavirus cases in Eastern Europe and Russia have led to the resurgence of lockdowns, threatening the ... Read More
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Oil futures headed higher on Wednesday

October 21, 2021
Recap: Oil futures headed higher on Wednesday, buoyed by a surprise weekly decline in U.S. crude inventories and a drop in gasoline stocks to their lowest in almost two years, even as China's move to bolster coal supplies looked to dull the outlook for oil demand. The drop in U.S ... Read More
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WTI closed at a fresh seven-year high as supplies remain tight

October 20, 2021
Recap: Oil futures were up on Tuesday, with WTI closing at a fresh seven-year high as supplies remain tight amid an improving global economy and rising natural gas and coal prices in Europe and Asia. The rise in prices is supported by an adherence to the gradual increase in produ ... Read More
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