Crude Oil Crude prices settled lower on Tuesday as mixed projections over the U.S. economic outlook caused gyrations in a market that continued to capitalize on last week’s monster snow storm in Texas, the heartland of U.S. oil. Brent futures for May settled at $64.48, 76 cents lower. WTI crude futures settled 3 cents lower at $61.37 a barrel. US refineries are expected to take longer to return to normal output levels than US oil…
Read MoreCrude Oil Crude oil prices rose sharply on Monday, caught up in a general rally in commodities driven by expectations of higher inflation. Brent futures settled up $2.33, or 3.7%, at $65.24. WTI crude futures settled up $2.34, or 4.0%, at $61.40 a barrel. The ongoing supply constraints from the closure of Texan wells and pipelines due to last week’s cold snaps also supported prices as their return to full production could take longer than earlier…
Read MoreCrude Oil Crude prices tumbled more than 2% Friday for their biggest slump since January on worries that refineries could be the next casualties from the Texas storms — resulting in a pile-up of crude stocks. Brent settled at $62.91, down $1.02, or 1.6%. For the week, it gained 0.8%. WTI crude settled settled settled at $59.26, down $1.27, or 2.1%. For the week, WTI dropped just 0.5%. Crude prices were also pressured Friday by…
Read MoreCrude Oil The one-way move in oil prices snapped on Thursday as some cashed in on this week’s “freeze” trade that sent crude markets higher than they might have otherwise gone. Brent settled settled down 0.6%, or 41 cents, at $63.93, after briefly breaking above $65 — its highest since January 2020. WTI crude settled settled down 1%, or 62 cents, at $60.52 per barrel as players took profit on its run to 13-month highs…
Read MoreCrude Oil Crude prices jumped in the US as Texas struggled with a fifth day of power black outs. Brent settled up 99 cents, or 1.6%, at $64.34, after setting a 13-month high of $64.74. Brent is up almost 25% on the year. WTI crude settled up $1.09, or 1.8%, at $61.14 per barrel. It earlier hit a session peak of $61.27, its highest since January 2020. WTI has risen more than 26% year-to-date. Analysts…
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