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Oil prices rose early in the session

June 23, 2021
Recap: Oil prices rose early in the session, with Brent futures trading at $75 a barrel for the first time since August of 2019, while WTI drew closer to the $74 mark. Prices were boosted by signs of tightening supplies, amid expectations for a global demand recovery. Both benchm ... Read More
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Oil futures ended the session at a 32-month high

June 22, 2021
Recap: Oil futures jumped sharply higher on Monday to end the session at a fresh 32-month high, as talks between the U.S. and Iran were suspended following the presidential election of hardline judiciary chief Ebrahim Raisi, who was sanctioned by the U.S. for his 1988 role in the ... Read More
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Oil futures closed higher for the fourth straight week

June 21, 2021
Recap: Oil futures reversed early losses on Friday to close higher for the fourth straight week, shaking off much of its post Fed price decline and after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices. The group’s outl ... Read More
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Oil futures tumbled on Thursday as the U.S. dollar strengthened

June 18, 2021
Recap: Oil futures tumbled on Thursday as the U.S. dollar strengthened after the Federal Reserve signaled it might raise interest rates as soon as 2023. Financial investors, who had loaded up on commodities as safe haven against inflation, bolted for the exits. Iran’s Deputy Fore ... Read More
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Oil futures hit their highest level since October 2018

June 17, 2021
Recap: Oil futures pared earlier gains after U.S. Federal Reserve Chairman Powell said inflation could turn out to be higher and more persistent than expected. The dollar strengthened following the policy announcement, weighing on commodities across the board. Interest rates were ... Read More
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A tropical disturbance coming up through the Gulf of Mexico has put traders on alert

June 16, 2021
Recap: A north bound tropical disturbance is coming up through the Gulf of Mexico and is expected to reach the far upper Texas coast or along the coast of Louisiana. This disturbance has the potential of becoming a tropical storm, which has put traders on alert. The possibility o ... Read More
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Oil futures ended slightly lower on Monday

June 15, 2021
Recap: Oil futures ended slightly lower on Monday, reversing earlier gains, as traders continued to monitor demand for crude oil. The rally is being fueled by bullish demand optimism and steady OPEC+ supply cuts. Demand growth is expected to increase and more economies to reopen. ... Read More
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WTI hit its highest intraday level since 2018

June 14, 2021
Recap: Oil futures finished the session with its third straight week of gains, as the International Energy Agency warned the market will need extra supply next year. WTI hit its highest intraday level since 2018, with the July contract topping the session at $71.24, the highest l ... Read More
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WTI traded above $70 a barrel for the second straight session

June 11, 2021
Recap:  It was a rollercoaster ride for oil futures on Thursday, with WTI trading above $70 a barrel for the second straight session, drawing support from higher-than-forecast U.S. inflation data. The climb above $70 only to come crashing down below $69 a barrel on an unconfirmed ... Read More
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The EIA reported a 7 million barrel build in U.S. gasoline inventories

June 10, 2021
Recap: Early gains in oil futures were erased on Wednesday after the EIA reported a 7 million barrel build in U.S. gasoline inventories and an increase of 4.4 million barrels in distillate stockpiles. Oil prices appeared headed for a second session of gains on hopes for increasin ... Read More
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