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The oil market continued to trade lower for a seventh consecutive session

August 23, 2021
Recap: On Friday, the oil market continued to trade lower for a seventh consecutive session, extending the week’s decline to 8.9%, ahead of the September crude contract’s expiration at the close.  The market remained pressured amid concerns over fuel demand due to increasing numb ... Read More
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 The oil market continued on its downward trend

August 20, 2021
Recap: The oil market continued on its downward trend on Thursday, falling for a sixth consecutive session.  The market sold off sharply as it was once again pressured by a stronger U.S. dollar and concerns over weaker demand as the newest wave of coronavirus infections throughou ... Read More
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The EIA reported a larger than expected draw in U.S. crude inventories of 3.2 million barrels to 435.5 million barrels

August 19, 2021
Recap: The oil market, which looked set to post another inside trading day early in the session, sold off and continued on its downward trend.  The market was pressured as traders remained concerned about the outlook for demand as COVID-19 cases surge worldwide.  The market also ... Read More
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Oil futures pared earlier gains to slip for the fourth straight session

August 18, 2021
Recap: Oil futures pared earlier gains to slip for the fourth straight session on Tuesday, as surging cases of the coronavirus across the globe continue to paint a grim picture for demand and as OPEC and its allies believe the market does not need more oil. Japan, the world's thi ... Read More
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Oil prices retreated as cases of the Delta variant of the coronavirus surge around the world

August 17, 2021
Recap: Oil futures fell for the third straight session on Monday after data from China’s economic recovery slowed more than anticipated last month. Oil prices retreated as cases of the Delta variant of the coronavirus surge around the world, fueling fears that a new wave of trave ... Read More
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Oil futures came under pressure on Friday for the second straight session

August 16, 2021
Recap: Oil futures came under pressure on Friday for the second straight session, as the U.S. encouraged OPEC and its allies to increase their output in order to lower prices and fuel an economic recovery, while the IEA lowered its forecast for demand for the rest of the year as ... Read More
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OPEC left its forecasts for 2021 and 2022 growth unchanged

August 13, 2021
Recap: Oil futures traded on both sides of unchanged on Thursday, as traders sort through the IEA report, in which it recently announced a downward revision to demand expectations, while OPEC left its forecasts for 2021 and 2022 growth unchanged, while lifting its projection of n ... Read More
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A U.S. government report showed a smaller than expected decrease in U.S. crude oil inventories

August 12, 2021
Recap: Oil futures fell on Wednesday after a U.S. government report showed a smaller than expected decrease in U.S. crude oil inventories and after the White House urged OPEC+ producers to pump more oil. Oil prices fell as much as 2.4% after the report. Losses were pared after U. ... Read More
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Futures rose as much as 3.6% after tumbling to a three-week low on Monday

August 11, 2021
Recap: Oil futures rebounded on Tuesday, trading in lockstep formation with higher equity markets, as investors grew more optimistic over global economic growth and after the U.S. Senate passed the long awaited infrastructure package. Futures rose as much as 3.6% after tumbling t ... Read More
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Oil futures fell sharply on Monday

August 10, 2021
Recap: Oil futures fell sharply on Monday, as China took additional steps to limit the spread of the delta variant of COVID-19, underlining fears about global demand for crude oil. U.S. congressional battles over budget and infrastructure, to an alarming report about the warming ... Read More
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