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On Friday, the Oil Market Continued to Trend Higher, Posting a New Seven-Year High on the Escalating Tensions Over Ukraine

February 14, 2022
Recap: On Friday, the oil market continued to trend higher, posting a new seven-year high on the escalating tensions over Ukraine.  White House National Security Adviser, Jake Sullivan, stated the U.S. believes Russia could take offensive military action or attempt to start a con ... Read More

The Oil Market Extended its Rally for a Second Day on Thursday on Concerns Over Market Tightness

February 11, 2022
Recap: The oil market extended its rally for a second day on Thursday on concerns over market tightness.  In its monthly report OPEC said that world oil demand may increase more this year as the global economy sees a strong recovery from the pandemic. The market was also supporte ... Read More

The Oil Market Erased its Earlier Gains, as the Prospect of Increased Supply From Iran Pressured the Market

February 10, 2022
Recap: The oil market erased its earlier gains, as the prospect of increased supply from Iran pressured the market.  The market continued on its downward trend after the U.S. resumed indirect talks with Iran to revive the nuclear deal on Tuesday.  Analysts believe an agreement co ... Read More

Oil Futures Fell Significantly on Tuesday as Traders Weighed the Risks to the Market's Recent Rally

February 9, 2022
Recap:  Oil futures fell significantly on Tuesday as traders weighed the risks to the market’s recent rally, including a potential de-escalation in tension over Ukraine and the resumption of Iran nuclear talks. Oil prices slipped as much as 3%. The focus was on geopolitical risks ... Read More

On Monday, the Oil Market Posted an Inside Trading Day as Concerns Over Tight Supply Were Offset

February 8, 2022
Recap:  On Monday, the oil market posted an inside trading day as concerns over tight supply were offset by signs of progress in nuclear talks between the U.S. and Iran after the market rallied for a seventh week last week. U.S. President Joe Biden’s administration restored sanct ... Read More

The Rally in Oil Futures Deepened on Friday, with Both Blends Pulling Away From the $90 Mark

February 7, 2022
Recap:  The rally in oil futures deepened on Friday, with both blends pulling away from the $90 mark, as a harsh winter storm raged in the U.S., piling onto a myriad of supply worries. About 350,000 homes and businesses in states such as Tennessee, Arkansas and Texas were without ... Read More

Oil Futures Turned Higher on Thursday, with WTI Piercing the $90 Mark

February 4, 2022
Recap:   Oil futures turned higher on Thursday, with WTI piercing the $90 mark, a day after OPEC+ stuck with a plan to boost production by another 400,000 barrel a day in March. A decline in the U.S. dollar index today to a 2-week low also supported energy prices.  Crude also has ... Read More

Oil Prices Slipped From Highs on Wednesday Even After OPEC+ Stuck to Planned Moderate Output Increases

February 3, 2022
Recap: Oil prices slipped from highs on Wednesday even after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly after prices rallied to 2014 highs. Oil futures peaked in overnight trading, but were unable to hold on t ... Read More

Oil Futures Settled Slightly Mixed on Tuesday

February 2, 2022
Recap:  Oil futures settled slightly mixed on Tuesday, a day ahead of the meeting between OPEC and other major oil producers. After reaching their highest level since the autumn of 2014, oil prices retreated from session highs. WTI for March delivery closed up .05 cents, to settl ... Read More

Oil Futures Finished Higher Monday, Capping a Sharp January Rally That Lifted Both Brent and WTI

February 1, 2022
Recap: Oil futures finished higher Monday, capping a sharp January rally that lifted both Brent and WTI by more than 17% for the month, as traders follow the threat of a Russian invasion of Ukraine. Oil futures had their biggest January gain in at least 30 years, as robust demand ... Read More
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