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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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U.S. oil drillers cut the number of operating rigs for the first cut in five weeks

April 26, 2021
Recap: Oil futures erased some of its losses made this week, as perhaps it was a bit overdone to the downside. Bullish economic data out of the U.S. and Europe boosted prices, however, the continued rise in the number of coronavirus cases across the globe kept a lid on prices. Ju ... Read More
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OPEC and the IEA raised their forecast for global demand growth in 2021

April 23, 2021
Recap: Oil futures reversed early losses on Thursday, to squeeze out small gains. A resurgence in the coronavirus pushed oil prices back from last week’s gains as most regions apart from Europe experienced a rise in the number of cases. Last week crude oil posted strong gains as ... Read More
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Oil prices fell to their lowest level in a week

April 22, 2021
Recap: Oil prices fell to their lowest level in a week, with U.S. crude oil inventories rising amid increasing concerns over global demand, as the number of COVID-19 infections continues to rise in Asia. Currently, there are a number of factors influencing oil markets which inclu ... Read More
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Tuesday marked the one-year anniversary of a negative price close for the front-month WTI contract

April 21, 2021
Recap: Oil futures jumped in early trading due to a disruption in Libyan exports and expectations that U.S. crude oil inventories fell last week. However, strength in the U.S. dollar and the rising number of coronavirus cases in Asia limited gains and pushed prices to their lowes ... Read More
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Oil futures have slowly risen 30% this year

April 20, 2021
Recap: Oil prices continued to trade sideways on Monday, as prices pivoted above and below unchanged. Crude prices searched for direction, as a weaker dollar, and falling U.S. inventories kept a floor under this market, while the number of COVID-19 cases hit a weekly record despi ... Read More
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The EIA reported the third straight weekly decline in U.S. crude oil inventories

April 19, 2021
Recap: Oil futures turned lower late in the session on Friday, but finished the week with a marked gain on signs of an economic recovery in the U.S. and China and as the outlook for demand appear rosier. China reported that its first-quarter gross domestic product jumped 18.3% on ... Read More
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