Oil Price Digest

Crude Oil WTI retraced most of Friday’s gains yesterday as the uncertainty about the Keystone pipeline looked like coming to an end. Brent, however, stayed firm, losing just two cents to close at $63.84 /bbl.  WTI gave up 84 cents to settle at $58.11 /bbl. TransCanada Corp said it would restart the pipeline on Tuesday under reduced pressure after obtaining approval from the US authorities. The WTI front month time spread, which had flipped into…

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…

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.…

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…

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…