Crude Oil Oil prices fell for a second day in a row on Tuesday, consolidating ahead of data likely to show another weekly build in U.S. crude stockpiles as refiners in storm-disrupted Texas tried to return to full operations in America’s energy epicenter. Brent futures settled at $67.52, down 1.1%, after Monday’s 1.6% drop. WTI crude settled at $64.01 per barrel, losing 1.6% for a second day in a row. ADNOC set its Apr’21 OSPs…
Read MoreCrude Oil Crude prices fell more than 1% Monday, pulling benchmark Brent back from highs above $70 per barrel, after it became apparent that the drone attack on a Saudi oil facility by the Yemeni Houthis did not cause the kingdom any loss in production. Brent futures got to as high as $71.38 per barrel after the raid on the port, breaching $70 the first time since January, before falling back. It settled the session…
Read MoreCrude Oil Oil prices jumped another 4% on Friday as the bulls have the bit between their teeth backed by global optimism for economic recovery, the US stimulus package and Saudi’s refusal to expand production. Brent futures settled at $69.36, up $2.62, or 4% on the day. For the week, it was up almost 5% and also hit a 13-month high of $69.57. WTI crude settled at $66.09, up $2.26, or 3.5%, on the day.…
Read MoreCrude Oil Investing.com – Oil prices jumped 4% Thursday as the OPEC+ producers’ alliance bucked expectations for a hike in output starting in April, with cartel leader Saudi Arabia sticking to its 1 million barrels per day cut while Russia and Kazakhstan opted for just modest increases. Brent futures settled rose $2.67, or 4.2%, to settle at $66.74. Brent soared to $67.72 earlier in the day, also its highest since January 2020. WTI crude settled…
Read MoreCrude Oil Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support alongside a drop in U.S. fuel inventories. Brent futures settled rose $1.37, or 2.2%, to settle at $64.07. WTI crude settled settled up $1.53, or 2.6%, at $61.28 per barrel. OPEC+ are considering rolling over production cuts into Apr’21 instead of raising…
Read More