Crude Oil WTI crude oil prices slipped below $60 a barrel Tuesday, on growing expectations that major oil producers will agree to ease production cuts at a key meeting this week on bets that crude demand will likely outstrip supply as the global vaccine-led recovery gathers pace. Brent futures settled down 90 cents at $62.79. WTI crude settled down 89 cents to settle at $59.75 per barrel. Ahead of the OPEC and non-OPEC producers virtual meeting…
Read MoreCrude Oil Oil prices fell more than 1% on Monday, extending losses that began last week, as investors unwound long positions on concern that OPEC may agree to increase global supply in a meeting this week and Chinese demand may be slipping. Brent futures settled down 77 cents, or 1.1%, at $63.69. Brent has lost a cumulative 3.7% in the past two sessions. Over the past four months though, it has rallied 72%. WTI crude…
Read MoreCrude Oil Oil prices fell further on Friday as inflation fears continued to spread panic across all markets. Brent futures fell $ 1.37 to $64.42 a barrel. WTI crude shed $2.03 to settle at $61.50 per barrel. For the week, Brent gained 5% while WTI gained 4%. For the month, both crudes gained nearly 18% This morning, prices have jumped up by over a dollar in the wake of the US House approving a stimulus…
Read MoreCrude Oil Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market. Brent futures fell 32 cents, or 0.5%, to $65.79 a barrel. WTI crude settled up 31 cents, at $63.53 per barrel, after rallying to a January 2020 high of $63.37. Despite the drop in…
Read MoreCrude Oil Oil prices hit 13-months highs again Wednesday after the U.S. government reported that crude production across the country fell by more than a million barrels per day last week after the mega snowstorm that blanketed Texas, the energy heartland of the country. Brent futures finished the session up $1.70, or 2.6%, at $66.18 per barrel. Brent hit a session high of $66.35 earlier, chasing Tuesday’s 13-month high of $66.79. WTI crude settled up…
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