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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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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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