Crude Oil Oil eased on Thursday as the market focused more on concerns that delays to vaccine rollouts and fresh travel curbs could depress demand. Brent futures settled 28 cents lower at $55.53 a barrel. WTIs future settled 51 cents lower at $52.34 per barrel. l Premium of the Brent front-month over the second month rose to its highest level since February 2020 for a fourth day in a row, with some attributing the strength…
Read MoreCrude Oil Crude oil prices moved hesitantly as markets continued to be unsure about the pace of vaccine rollout. Brent futures settled 9 cents lower at $55.81 a barrel. WTIs future settled 24 cents higher at $52.85 per barrel. The IMF warned that vaccine shortages may delay the economic recovery leading to financial instability. The Federal Reserve left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging…
Read MoreCrude Oil Crude oil prices were mixed as markets were still uncertain about ecnomic recovery. Brent futures settled 3 cents higher at $55.90 a barrel. WTIs future settled 16 cents lower at $52.61 per barrel. The International Monetary Fund, upgraded the outlook for 2021 global GDP growth to 5.5%, up 0.3 percentage points from its previous forecast last October, citing “expectations of a vaccine-powered strengthening of activity later in the year and additional policy support…
Read MoreCrude Oil Crude oil prices recovered on as markets rediscovered optimism at the start of a new week. Brent futures settled 47 cents higher at $55.48 a barrel. WTIs future settled at $52.27 per barrel, down 86 cents. For the week, Brent actually gained 31 cents or 0.6% while WTI lost 0.2%. The DOE data on Friday reported a build of 4.35 million barrels. While this was against the market expectations of a 1.7 million…
Read MoreCrude Oil Crude oil prices fell on Friday as markets continued to be sceptical of market recovery. There also may have been an element of profit taking for the week. Brent futures settled 69 cents lower at $55.41 a barrel. WTIs future settled at $52.27 per barrel, down 86 cents. For the week, Brent actually gained 31 cents or 0.6% while WTI lost 0.2%. The DOE data on Friday reported a build of 4.35 million…
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