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Oil futures seesawed between gains and losses on Friday

May 10, 2021
Recap: Oil futures seesawed between gains and losses on Friday, in what was a choppy trading session, following a disappointing U.S. jobs report. Crude’s advance this week comes amid strength in the broader commodities sector. The Organization of Petroleum Exporting Countries and ... Read More
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Rising number of COVID-19 cases in India continues to overshadow the decrease in U.S. crude oil inventories

May 7, 2021
Recap: Oil futures fell from early gains, as the rising number of COVID-19 cases in India continues to overshadow the huge decrease in U.S. crude oil inventories. Hopes that India's deadly second coronavirus wave was about to peak were swept away on Thursday as it posted record d ... Read More
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The EIA reported a 7.99 million barrel draw in U.S. crude oil inventories

May 6, 2021
Recap: Oil futures turned lower just ahead of the settlement period, reversing early gains made after the EIA reported a 7.99 million barrel draw in U.S. crude oil inventories. Stronger refinery runs and strong exports were behind the stockpile decline. Euphoria over an economic ... Read More
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The API reported a 7.7 million barrel draw in U.S. crude oil inventories

May 5, 2021
Recap: Oil prices added to their gains on Tuesday, as more states in the U.S. eased COVID19 restrictions, and as the European Union plans to allow foreign visitors who have been vaccinated to travel to its countries. Gasoline futures jumped more than 2.8%, reaching its highest le ... Read More
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Oil prices flipped back and forth between losses and gains before gathering enough momentum to break to the upside

May 4, 2021
Recap: Oil futures rebounded on Monday, as traders became more confident that an economic recovery in the U.S. and China would overshadow falling demand out of India, as that country continues to deal with record-breaking infection rates of COVID19. Oil prices flipped back and fo ... Read More
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Oil prices fell from six week high after Japanese import data was released

May 3, 2021
Recap:  Oil prices were bumped off of a six week high after Japanese import data and the increasing number of COVID-19 cases in India scared traders out of long positions. Oil prices gained on optimistic reports from major investment banks, but less optimistic overseas economic d ... Read More
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Oil futures rose to their highest level in six-weeks

April 30, 2021
Recap: Oil futures rose to their highest level in six-weeks as U.S. data showed a strong first quarter increase in economic growth, boosting expectations for energy demand despite India’s battel against the spread of COVID-19. According to economic data, the U.S. GDP rose 6.4% on ... Read More
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EIA reported a modest weekly build in U.S. crude oil inventories and gasoline supplies

April 29, 2021
Recap: Oil futures rose to the highest level in six weeks, extending early gains after the EIA reported a modest weekly build in U.S. crude oil inventories and gasoline supplies, along with data showing a significant rise in implied demand for gasoline from a year ago. Prices als ... Read More
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Oil futures ended at their highest level in a week on Tuesday

April 28, 2021
Recap: Oil futures ended at their highest level in a week on Tuesday after OPEC and its allies surprised the market by meeting a day earlier than scheduled, and decided to keep their current plan to gradually raise production in place. The meeting was supposed to take place on We ... Read More
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Oil futures fell on Monday extending last week’s loss

April 27, 2021
Recap: Oil futures fell on Monday, extending last week’s loss, as the number of rising cases of COVID-19 in India heightened concerns about demand. With OPEC and its allies due to meet later this week, traders are anxiously awaiting to see what actions, if any the group will take ... Read More
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