Crude Oil Oil prices rose on Tuesday as investors focused on the rollout of COVID-19 vaccines, looking past tightening lockdowns in Europe and forecasts for a slower-than-expected recovery in fuel demand. Brent crude futures for February setter 47 cents higher at $50.76 a barrel, while WTI futures for January settled up 63 cents at $47.62 a barrel. Exports of Russian Urals oil via the 1 MB/D Druzhba pipeline are likely to fall in Q1’21 as…
Read MoreCrude Oil Oil prices were marginally higher in choppy trade on Monday. Brent crude futures for February ended the session 32 cents, or 0.6%, higher at $50.29 a barrel, while WTI futures for January settled up 42 cents, or 0.9%, at $46.99 a barrel. Prices slid more than 1% earlier in the session after OPEC said global oil demand would rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus…
Read MoreCrude Oil Brent crude retraced below $ 50 /bbl on Friday as speculators took profit on long positions at the end of the week. Brent crude settled settled 28 cents lower at $ 49.97 per barrel. WTI futures fell 21 to settle at $46.57 a barrel. For the week, Brent was up 1.5% and WTI was up less than 1%. That was the sixth consecutive week of gains for the first time since June. India’s…
Read MoreCrude Oil Brent crude finally surged past $ 50 /bbl as speculators bet on the vaccine being effective and demand picking up fast. Brent crude settled $ 1.39 higher at $50.25 per barrel. WTI futures rose $1.26 to settle at $46.78 a barrel. Both benchmarks reached their highest levels since March, with the contracts posting session highs of $51.06 a barrel and $47.74 a barrel, respectively. However, their relative strength indexes showed both had moved…
Read MoreCrude Oil Uncertainty continued to dog the oil markets as it struggled to come to terms with patent lack of demand and upcoming vaccine results. Brent crude settled 2 cents higher at $48.81 per barrel. WTI futures fell 8 cents to settle at $45.52 a barrel. Prices fell 1% early in the session as U.S. crude inventories rose by 15.2 million barrels to 503.2 million barrels last week, according to the Energy Information Administration. Libyan…
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