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Oil futures scored their highest finish in a week

May 25, 2021
Recap: Oil futures scored their highest finish in a week, as doubts that an Iranian nuclear deal would surface any time soon. A lack of cooperation by Iran, as well as “skeptical comments about Iranian compliance” by U.S. Secretary of State Anthony Blinken, both “lower the odds t ... Read More
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Barclays said a gradual oil demand recovery is largely on track as economies re-open

May 24, 2021
Recap: On Friday, the oil market posted an outside trading day following three consecutive days of losses, as it continued to trend lower in overnight trading before it rallied sharply higher.  Early in the session, the market remained pressured and posted a low of $61.56 as it b ... Read More
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The global oil markets remained on the defensive for the third consecutive day

May 21, 2021
Recap: The global oil markets remained on the defensive for the third consecutive day today as news reports swirled that Iran could soon see oil sanction relief. The Iranian president Thursday confirmed that the negotiations between the U.S and other world powers and Iran were on ... Read More
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Oil futures fell to their lowest settlement in more than three weeks

May 20, 2021
Recap: Oil futures fell on Wednesday, logging their lowest settlement in more than three weeks, pressured by overall losses in the broader financial market, as traders ruminated over the first weekly U.S. crude oil inventory rise in three weeks. At one point during trading, June ... Read More
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Oil futures fell from a two-month high on Tuesday

May 19, 2021
Recap: Oil futures fell from a two-month high on Tuesday as news broke that the U.S. and Iran have made progress on reviving a deal restricting Iran’s nuclear weapons development, which could lead to extra barrels of oil on the open market. Prices plunged nearly 2%, but losses we ... Read More
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Oil futures rose more than 1% on Monday

May 18, 2021
Recap: Oil futures rose more than 1% on Monday, with WTI climbing to its highest level in two years. Prices were lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturin ... Read More
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The Colonial Pipeline reopened after being shut down for days

May 17, 2021
Recap: Oil futures rose on Friday, posting weekly gains, as the Colonial Pipeline reopened after being shut down for days in response to a ransomware attack. It is estimated that the outage resulted in a 7.5 million barrel shortfall in East Coast gasoline and a 6 million barrel s ... Read More
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Oil prices fell from their highest level in eight-weeks

May 14, 2021
Recap: Oil prices fell from their highest level in eight-weeks as the coronavirus continued to spread across India and after the Colonial Pipeline resumed operations approximately 50% of its 5,500 mile long pipeline that had been shuttered due to a cyberattack over the past weeke ... Read More
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Traders are focused on the status and expected restart of the Colonial Pipeline

May 13, 2021
Recap: Despite the release of the weekly oil report this morning traders remained basically focused on one thing, the status and expected restart of the Colonial Pipeline. While product prices crept higher overnight, they surged higher once the day trading session got underway an ... Read More
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The U.S. government and Colonial Pipeline worked to secure the network that transports nearly half of the East Coast's supplies

May 11, 2021
Recap: After jumping to their highest level in almost three years, RBOB futures peeled early gains to trade in negative territory, after Colonial Pipeline said Sunday evening that some of its smaller lateral lines between terminals and delivery points are once again online follow ... Read More
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