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Oil futures climbed for the fourth straight session on Thursday

April 16, 2021
Recap: Oil futures climbed for the fourth straight session on Thursday, settling at their highest level in a month, as optimism over demand, amid falling U.S. crude oil inventories remains the key focus among traders. Once again, weakness in the U.S. dollar also lent support. Tra ... Read More
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Oil futures climbed by almost 5% on Wednesday

April 15, 2021
Recap: Oil futures climbed by almost 5% on Wednesday, as the International Energy Agency raised its forecast for global oil demand and as U.S. government data revealed a third-weekly drop in U.S. crude oil inventories. Oil prices also got a boost from the latest demand updates, w ... Read More
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OPEC raised its forecast for oil consumption by 190,000 bpd for 2021

April 14, 2021
Recap: On Tuesday, the oil market posted an inside trading day as it failed to breach Monday’s trading range.  While the market traded sideways, it did trade higher for much of the day.  The market was supported by OPEC’s monthly report, which showed that OPEC increased its expec ... Read More
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The oil market was supported by optimism over the pace of coronavirus vaccinations in the U.S.

April 13, 2021
Recap: The oil market on Monday posted an outside trading as the market was well supported by optimism over the pace of coronavirus vaccinations in the U.S. and news that the Yemen's Iran-aligned Houthi movement said it had fired 17 drones and two ballistic missiles at Saudi targ ... Read More
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OPEC and its allies decided to increase supplies by 2 million barrels per day

April 12, 2021
Recap: Oil futures edged lower on Friday, on concerns about increasing supply, and slowing demand, as the number of coronavirus cases rise across Europe, Brazil and India. Additional downside pressure came after OPEC and its allies decided to increase supplies by 2 million barrel ... Read More
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WTI traded to the downside and Brent held on to small gains

April 9, 2021
Recap: Oil prices were little changed, as they traded on a mixed note, with WTI trading to the downside, while Brent held on to small gains. The mixed emotions came as traders weighed the prospects for energy demand on the heels of the rise in global cases of COVID-19. Some analy ... Read More
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The EIA reported a more than 4 million barrel build in U.S. gasoline stockpiles

April 8, 2021
Recap: Oil futures fell from session highs alongside a strengthening dollar while the biggest U.S. gasoline supply increase in two months offset a drop in crude inventories. WTI fell as much as 2% after the EIA reported a more than 4 million barrel build in U.S. gasoline stockpil ... Read More
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Oil futures rose as much as 3.8% on Tuesday

April 7, 2021
Recap: Oil futures rose as much as 3.8% on Tuesday, following a rise across the spectrum for commodities, as the International Monetary Fund boosted its 2021 economic growth forecast to 6% from a January forecast of 5.5% as it expects strong growth for emerging economies and the ... Read More
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Oil futures fell on Monday

April 6, 2021
Recap: Oil futures fell on Monday, with some traders worried that the rising number of COVID cases will stammer demand and, as the energy complex grew concerned over the decision by OPEC+ to ease output curbs and indications that Iran is adding more supply to the market. Demand c ... Read More
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OPEC+ decided to gradually increase crude output by adding 350,000 barrels per day starting in May

April 5, 2021
Recap: In a surprise move, oil futures rose on Thursday, despite OPEC+ deciding to gradually increase crude output by adding 350,000 barrels per day starting in May and over the next three months. Citing a slow tightening between supply and demand, and forecasts for a strong reco ... Read More
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