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WTI settled at its highest level since 2014

October 5, 2021
Recap: Oil futures rallied on Monday, with WTI settling at its highest level since 2014, after OPEC and its allies maintained its current agreement to gradually raise crude oil production each month. The agreement to “gradually” raise production comes at a time when demand appear ... Read More
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Oil futures rose as natural gas prices surge globally

October 4, 2021
Recap:  Oil futures rose on Friday, with Brent trading above $79 a barrel, supported by tight supplies and the upcoming meeting between OPEC and its allies, which is set to take place on Monday. Oil is also finding support as a surge in natural gas prices globally prompts power p ... Read More
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Oil markets were volatile after reports that China may buy more oil to meet growing demand

October 1, 2021
Recap:  Trade in the oil markets was volatile on Thursday, with prices initially trading below unchanged, then reversing to the upside following reports that China was prepared to buy more oil to meet growing demand. Oil prices tacked on as much as 1.6% before erasing most of the ... Read More
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The EIA reported a 4.6 million barrel increase in U.S. crude oil inventories

September 30, 2021
Recap: Oil futures turned lower for the second straight session on Wednesday, as the dollar rallied to its highest level in almost a year and after the EIA reported a 4.6 million barrel increase in U.S. crude oil inventories, defying expectations for a 4.5 million barrel decline. ... Read More
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OPEC said demand for oil will increase sharply in the next few years

September 29, 2021
Recap:Oil futures opened Tuesday’s session trading at unchanged but quickly jumped, with Brent topping the session above $80 a barrel for the first time in nearly three years, as a crunch in the natural gas market spilled over into the crude oil market. Gains however, were pared ... Read More
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Brent reached its highest level since October 2018

September 28, 2021
Recap: Oil futures rose for the fifth straight session, with Brent reaching its highest level since October 2018, as it pushed toward $80 a barrel. Tight supplies amidst rising demand left investors worrying about supply shortages. U.S. crude inventories have fallen sharply in re ... Read More
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Oil futures rose to a nearly three-year high on Friday

September 27, 2021
Recap: Oil futures rose to a nearly three-year high on Friday, heading higher for the third straight week, as they gained support by global output disruptions and inventory draws. Oil prices have been supported in recent weeks by major disruptions in U.S. Gulf Coast production fo ... Read More
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Oil futures continued to climb on Thursday

September 24, 2021
Recap: Oil futures continued to climb on Thursday, as concern over a potential default by property developer China Evergrande and its possible fallout on the world’s second largest economy were pushed aside by growing fuel demand and a bigger than expected decrease in U.S. crude ... Read More
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Crude oil futures rose more than 2% on Wednesday

September 23, 2021
Recap: Crude oil futures rose more than 2% on Wednesday, supported by the 3.5 million barrel draw in U.S. crude oil inventories, which marked the seventh straight week of losses. Meanwhile, U.S. equities surged as worries about China Evergrande Group’s debt woes eased. Uncertaint ... Read More
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Oil futures rebounded on Tuesday as the market focused on tight U.S. supplies

September 22, 2021
Recap: Oil futures rebounded on Tuesday as the market focused on tight U.S. supplies despite concerns over the economic health of China. The gains came as U.S. supply remains hampered after the U.S. Gulf Coast was hit by back to back hurricanes. As of Monday, The Bureau of Safety ... Read More
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