Crude Oil On a short trading day following the US Thanksgiving holiday, crude prices continued its uptick. Brent settled 54 cents higher at $63.89 /bbl. WTI jumped 93 cents to settle at $58.95 /bbl. For the week, WTI gained about 4.2%, while Brent marked a climb of about 1.8%. The key factor to the phenomenal rise in crude prices this week has been the disruption to the Keystone pipeline connecting Canada’s Alberta oil sands to…
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Crude Oil Crude prices continued moving up with the US closed for the Thanksgiving holiday as market played on the uncertainty regarding the reopening of the Keystone pipeline. Brent settled 23 cents higher at $63.55 /bbl. WTI continued to set higher levels gaining 54 cents to settle at $58.02 /bbl. The markets closed early yesterday due to the US Thanksgiving holiday. Trading is expected to be light today as well with the US closing early.…
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Crude Oil Crude prices moved up notwithstanding data from the DOE that could be construed as distinctly bearish. Brent settled 75 cents higher at $63.32 /bbl. The Jan-18 WTI future, which became first month today gained $1.19 to settle at $58.02 /bbl., the highest level seen in two years The rise is prices has been in reaction to the news that the 590 kbd, Keystone pipeline from Canada to the US could take far longer…
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Crude Oil Crude prices resumed their upward move yesterday. Brent settled 35 cents higher at $62.57 /bbl. WTI gained 41 cents to settle at $56.50 /bbl. The gain has been attributed to anticipation that the production cuts put in place by the OPEC / non OPEC cartel will be extended post March 2018. Prices have also spiked up a little this morning after the release of API data. The Iraqi Kurdish government has requested US…
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Crude Oil Crude prices retraced a bit on Monday. Brent settled 50 cents lower at $62.22 /bbl. WTI eased 46 cents to settle at $56.09 /bbl. While there has been a retracement, the persistent underlying bullishness is apparent from the fact that Brent recovered from a low of $61.46. This is even more striking when we take into consideration the fact that commodities across the board were hurt by the strengthening of the US dollar.…
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