Crude Oil Crude oil prices were uncertain as eyes returned to ground realities on Thursday. Brent futures settled 2 cents higher at $56.10 a barrel. The March WTI future settled at $53.06 per barrel, down cents. The outbreak of fresh Covid cases in China, as also the resistance to the stimulus package in the US and speed of adoption of the vaccine is making people look at these price levels with fresh scepticism. We believe…
Read MoreCrude Oil Crude oil prices rose marginally on Wednesday, shrugging off dismal demand forecasts from the US. Brent futures settled 18 cents higher at $56.08 a barrel. The March WTI future settled at $53.24 per barrel, up 26 cents. Oil prices have responded positively to yesterday’s statements by US Treasury Secretary-designate Yellen and to the ensuing USD weakness, gaining by around 2%. Its overall figure for 2021 oil demand is now 96.64 million b/d, down from…
Read MoreCrude Oil Crude oil prices rose on Tuesday, with renewed hope for U.S. demand under the influence of loose fiscal and monetary policy keeping prices well supported. Brent futures settled $1.15 higher at $55.90 a barrel. The expiring Feb WTI future did settled 62 cents higher at $ 52.98 per barrel. The more active March WTI future also settled at $52.98 per barrel. However, the rise was relatively lower at 56 cents. The International Energy…
Read MoreCrude Oil Oil Prices continued to stay weak on a day of thin trading with the US being closed for the Martin Luther King Jr. holiday. Brent futures settled 35 cents lower at $54.75 a barrel. WTI futures did not record a settle. A weaker US Dollar also helped support prices. China reported a 3% increase in refinery through put in 2020. Annual throughput stood at 674.41 million tonnes in 2020, or about 13.45 million…
Read MoreCrude Oil We resume our coverage of the oil markets after a two week hiatus due to some exigencies. Oil Prices tumbled on Friday after some extremely weak economic data out of the US rekindled fears about rebound of growth. Brent futures settled $1.32 lower at $55.10 a barrel, while WTI futures fell $1.21 to settle at $52.36/bbl. For the week Brent lost 1.6%. WTI, however, recorded a gain of 0.5% Exacerbating the shock due…
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