COVID-19 Response
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Oil futures fell on Monday after hitting their highest level since 2018 earlier in the session

June 29, 2021
Recap: Oil futures fell on Monday after hitting their highest level since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe stunted the rally before this week’s OPEC+ meeting. August WTI traded at a high of $74.45 before tumbling to a session low of $72 ... Read More
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Oil futures rose for the fifth consecutive week

June 28, 2021
Recap: Oil futures rose on Friday, gaining for the fifth consecutive week on expectations demand growth will outpace supply. The infrastructure deal struck by a bipartisan group of senators and President Joe Biden on Thursday, which include a proposed $6 billion sale from the U.S ... Read More
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The EIA reported a 7.6 million barrel draw in U.S. crude oil inventories

June 25, 2021
Recap: Oil futures ended higher on Thursday, extending the previous day’s gains made after the EIA reported a 7.6 million barrel draw in U.S. crude oil inventories. The larger than expected drop is being seen as an indication that demand is continuing to improve from pandemic low ... Read More
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Oil futures rose for the fourth straight session

June 24, 2021
Recap: Oil futures rose for the fourth straight session, with Brent tackling the $76 a barrel level for the first time since late 2018, after government data showed U.S. crude oil inventories falling 7.6 million barrels (excluding SPR oil). WTI topped $74 a barrel, for the first ... Read More
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Oil prices rose early in the session

June 23, 2021
Recap: Oil prices rose early in the session, with Brent futures trading at $75 a barrel for the first time since August of 2019, while WTI drew closer to the $74 mark. Prices were boosted by signs of tightening supplies, amid expectations for a global demand recovery. Both benchm ... Read More
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Oil futures ended the session at a 32-month high

June 22, 2021
Recap: Oil futures jumped sharply higher on Monday to end the session at a fresh 32-month high, as talks between the U.S. and Iran were suspended following the presidential election of hardline judiciary chief Ebrahim Raisi, who was sanctioned by the U.S. for his 1988 role in the ... Read More
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Oil futures closed higher for the fourth straight week

June 21, 2021
Recap: Oil futures reversed early losses on Friday to close higher for the fourth straight week, shaking off much of its post Fed price decline and after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices. The group’s outl ... Read More
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Oil futures tumbled on Thursday as the U.S. dollar strengthened

June 18, 2021
Recap: Oil futures tumbled on Thursday as the U.S. dollar strengthened after the Federal Reserve signaled it might raise interest rates as soon as 2023. Financial investors, who had loaded up on commodities as safe haven against inflation, bolted for the exits. Iran’s Deputy Fore ... Read More
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Oil futures hit their highest level since October 2018

June 17, 2021
Recap: Oil futures pared earlier gains after U.S. Federal Reserve Chairman Powell said inflation could turn out to be higher and more persistent than expected. The dollar strengthened following the policy announcement, weighing on commodities across the board. Interest rates were ... Read More
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A tropical disturbance coming up through the Gulf of Mexico has put traders on alert

June 16, 2021
Recap: A north bound tropical disturbance is coming up through the Gulf of Mexico and is expected to reach the far upper Texas coast or along the coast of Louisiana. This disturbance has the potential of becoming a tropical storm, which has put traders on alert. The possibility o ... Read More
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