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Tensions in the Mideast, along with a weaker U.S. dollar gave rise to crude oil prices

August 6, 2021
Recap: Tensions in the Mideast, along with a weaker U.S. dollar gave rise to crude oil prices on Thursday but renewed Covid-19 restrictions across the globe worked to keep a lid over this market. Israeli jets struck what its military said were rocket launch sites in Lebanon early ... Read More
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The EIA reported a 3.63 million barrel build in U.S. crude oil inventories

August 5, 2021
Recap: Oil prices declined for the third straight session as the coronavirus spread in China and after the EIA reported a 3.63 million barrel build in U.S. crude oil inventories, the largest gain since March.  After eking out a small advance in July, August is proving to be tough ... Read More
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WTI and Brent both rose around 48% year-to-date

August 4, 2021
Recap: Oil prices seesawed between negative and positive territory in what was a volatile session, as concern over the rising cases of the Delta coronavirus variant weighed on prices while expectations of lower U.S. inventories provided some support. The 2021 oil rally, which has ... Read More
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Oil futures opened higher on Monday

August 3, 2021
Recap: Oil futures opened higher on Monday, but failed above the unchanged level on weak Chinese data and as traders assessed the spread of the Delta variant of the coronavirus that causes COVID-19 and rising output by OPEC+ producers. In China, data released on Saturday by the N ... Read More
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Oil futures rebounded after opening lower on the day

August 2, 2021
Recap: Oil futures rebounded after opening lower on the day, but remained on track to post weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of the Delta variant of COVID-19 infections across the globe. Even with coronavi ... Read More
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Oil futures continue to grow as data showed a decline in U.S. crude oil inventories

July 30, 2021
Recap:  Oil futures resumed their ascent on Thursday, after data released on Wednesday showed U.S. crude oil inventories falling by 4.1 million barrels for the week ended July 23, marking the ninth weekly decline in 10 weeks. Brent pushed above $76 a barrel, while WTI climbed tow ... Read More
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The EIA reported a 4.1 million barrel drop in U.S. crude oil inventories

July 29, 2021
Recap: Oil futures rose on Wednesday, as the focus has shifted from the spread of COVID-19 to tight supplies after the EIA reported a 4.1 million barrel drop in U.S. crude oil inventories. Oil has risen 45% this year, helped by demand recovery and supply curbs by the Organization ... Read More
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The COVID-19 Delta variant increased fear that global demand would be significantly impacted

July 28, 2021
Recap: Oil prices eased on Tuesday as the spread of the COVID-19 Delta variant increased fear that global demand would be significantly impacted, despite tightening supplies and rising vaccine rates. Volatility in the oil markets was muted, with prices falling into a sideways tra ... Read More
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Oil futures fell in overnight trading

July 27, 2021
Recap: Oil futures fell in overnight trading as the spread of the COVID-19 Delta variant raised concern about demand, but losses were limited by the forecast that crude oil supply will be tight the rest of the year. Coronavirus case rose over the weekend, with some countries repo ... Read More
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Baker Hughes reported that the oil and gas rig count increased by seven to 491

July 26, 2021
Recap: Oil futures were little changed on Friday, after a strong recovery from Monday’s selloff, underpinned by expectations that supply will remain tight through the year. The price of oil and other riskier assets tumbled at the start of the week on concern over the impact on th ... Read More
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