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Oil prices have soared more than 50% so far this year

July 8, 2021
Recap: Oil slipped as the dollar rose and investors awaited further signals from the OPEC+ alliance on its production policy after a dispute upended talks. August WTI fell as much as 3.7%, to a session low of $71.07 a barrel, as a strong dollar reduced the appeal of dollar denomi ... Read More
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WTI hit a six-year high and traded at 479.98 a barrel

July 7, 2021
Recap: Oil futures ended sharply lower on Tuesday, pressured by uncertainty over the outlook for global crude production after talks between OPEC and its allies collapsed. Before heading lower, WTI hit a six-year high, trading at 479.98 a barrel, a gain of $1.82, or 2.42% a barre ... Read More
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Oil futures traded mixed on Friday after OPEC+ delayed its meeting

July 6, 2021
Recap: Oil futures traded mixed on Friday after OPEC+ delayed its meeting, with sources saying the United Arab Emirates (UAE) had balked at proposals that included raising supply by 2 million barrels per day by year end. Both benchmark contracts had gained on Thursday after OPEC+ ... Read More
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WTI climbed above $75 a barrel for the first time since October 2018

July 2, 2021
Recap: WTI climbed above $75 a barrel for the first time since October 2018, as the market waited for a decision from OPEC+ on future production levels. The ministerial panel recommended a gradual increase in oil output to the end of the year. The Joint Ministerial Monitoring Com ... Read More
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The EIA reported that U.S. crude oil inventories fell 6.7 million barrels

July 1, 2021
Recap: Oil futures fell from session highs, but remained in positive territory after the Energy Information Administration said U.S. crude oil inventories fell 6.7 million barrels in the week ending June 25, marking the sixth straight week of declines. Upon the initial selloff, p ... Read More
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Oil futures initially traded to the downside on Tuesday

June 30, 2021
Recap: Oil futures initially traded to the downside on Tuesday, but recovered, as investors monitored a pickup in the spread of the delta variant of the virus that causes COVID-19 and awaited an OPEC+ decision on whether to further lift curbs on crude production. The decision by ... Read More
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Oil futures fell on Monday after hitting their highest level since 2018 earlier in the session

June 29, 2021
Recap: Oil futures fell on Monday after hitting their highest level since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe stunted the rally before this week’s OPEC+ meeting. August WTI traded at a high of $74.45 before tumbling to a session low of $72 ... Read More
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Oil futures rose for the fifth consecutive week

June 28, 2021
Recap: Oil futures rose on Friday, gaining for the fifth consecutive week on expectations demand growth will outpace supply. The infrastructure deal struck by a bipartisan group of senators and President Joe Biden on Thursday, which include a proposed $6 billion sale from the U.S ... Read More
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The EIA reported a 7.6 million barrel draw in U.S. crude oil inventories

June 25, 2021
Recap: Oil futures ended higher on Thursday, extending the previous day’s gains made after the EIA reported a 7.6 million barrel draw in U.S. crude oil inventories. The larger than expected drop is being seen as an indication that demand is continuing to improve from pandemic low ... Read More
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Oil futures rose for the fourth straight session

June 24, 2021
Recap: Oil futures rose for the fourth straight session, with Brent tackling the $76 a barrel level for the first time since late 2018, after government data showed U.S. crude oil inventories falling 7.6 million barrels (excluding SPR oil). WTI topped $74 a barrel, for the first ... Read More
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