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Oil futures fell during most of Monday’s session

November 16, 2021
Recap: Oil futures fell during most of Monday’s session as pressure continues to mount on the Biden administration to release oil from the Strategic Petroleum Reserves and as Saudi Arabia and the UAE indicated that OPEC+ is going to continue with its current plan on output hikes. ... Read More
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Oil futures fell on Friday after a choppy trading session

November 15, 2021
Recap:  Oil futures continued to slide on Friday, in what was a choppy trading session as traders booked profits and squared positions ahead of the weekend. Strength in the U.S. dollar, and the threat of a possible release of crude from the Strategic Petroleum Reserves were among ... Read More
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OPEC cut its demand forecast by 0.16-million barrels per day from its October estimate

November 12, 2021
Recap: Oil futures held steady on Thursday, as traders coped with strength in the US dollar, concerns over increasing US inflation, and after OPEC cut its 2021 forecast due to high prices. Inflation numbers in the US are adding pressure on the Biden administration to release oil ... Read More
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The EIA reported a 1 million barrel build in U.S. crude oil inventories

November 11, 2021
Recap: Oil futures retreated from two-week highs on Wednesday after the EIA reported a 1 million barrel build in U.S. crude oil inventories and after President Joe Biden said his administration was looking for ways to reduce energy costs amid a broader increase in inflation. Pres ... Read More
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Oil futures jumped on expectations the EIA report will show an increase in U.S. crude oil inventories

November 10, 2021
Recap: Oil futures jumped ahead of the EIA weekly inventory report, which is expected to show an increase of 1.9 million barrels in U.S. crude oil inventories. Spurred higher by OPEC+’s decision to hold steady on its output levels, while demand is expected to increase. Adding to ... Read More
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Oil futures moved higher as Saudi Arabia increased prices

November 9, 2021
Recap:  Oil futures moved higher on Monday after Saudi Arabia increased prices which was taken as a signal that global stockpiles are decreasing quicker than expected. Saudi Arabia made some of the biggest increases to its official selling prices in decades late last week, a move ... Read More
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Oil futures settled up after hitting four week lows

November 8, 2021
Recap:  Oil futures clawed their way back from four week lows after OPEC and its allies moved forward with its plans for a gradual increase in production. OPEC+ rebuffed calls by U.S. President Joe Biden for the group to increase production in an effort to stem rising prices. The ... Read More
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OPEC and its allies decided to maintain its current pace of supply increases

November 5, 2021
Recap: Oil futures plunged on Thursday after OPEC and its allies decided to maintain its current pace of supply increases despite U.S. President Joe Biden’s call for OPEC+ to increase output. This prompted speculation that the U.S. may tap into its strategic reserves and as a res ... Read More
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Major crude consumers intensified pressure on OPEC and its allies to boost supplies

November 4, 2021
Recap: Oil futures fell by the most in nearly two months as major crude consumers intensified pressure on OPEC and its allies to boost supplies and after U.S. crude oil inventories reached their highest level since August. U.S. President, Joe Biden has taken a strong stance on re ... Read More
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Traders weighed the potential outcome of a meeting between OPEC and its allies later this week

November 3, 2021
Recap: Oil futures settled lower on Tuesday as traders weighed the potential outcome of a meeting between OPEC and its allies later this week and on expectations that U.S. crude oil inventories increased by 1.5 million barrel for the week ended Oct. 29. Oil prices initially tried ... Read More
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