Crude Oil Crude oil prices settled largely unchanged from Monday’s end of day as wintry conditions hit production in Texas, the biggest energy producing state in the United States. Brent settled at $63.12 /bbl, down 18 cents. WTI crude settled at $60.05 /bbl, up 58 cents from its settle on Friday. The deep freeze that hit Texas over the weekend has knocked out roughly 4 MB/D of refining capacity, more than 20% of national capacity,…
Read MoreCrude Oil Oil prices continued to rise as freezing weather in Texas caused electricity blackouts and disrupted flows from the biggest US shale patch. Brent settled at $63.30 /bbl, up 87 cents. At the time of settle WTI crude was trading around $60.13 /bbl, up 66 cents. The latest in a series of cold snaps have provided a bigger-than-expected boost to oil consumption since the start of the year. The North Sea oil market, which…
Read MoreCrude Oil Oil prices bounced back on Friday after a slight retracement on Thursday. Brent officially settled at $62.43 /bbl, up $1.29, or 2.1%. WTI crude settled the session at $59.47 /bbl, up $1.23, or 2.1%. For the week, Brent gained 5.2% while WTI gained 4.6%. Markets have been supported largely by the threat of OPEC, and separately Saudi Arabia’s cuts. There is also a feel good factor in the market with the signs of…
Read MoreCrude Oil Crude prices rose for the ninth day in a row on Wednesday as the U.S. government reported another weekly drop in stockpiles that bucked market expectations. This is its longest winning streak in over two years. Brent settled up 38 cents, or 0.6%, to $61.44 a barrel. WTI crude for March was at $58.68 a barrel, up 32 cents or 0.6%. Iran has carried out its plan to produce uranium metal, the UN…
Read MoreCrude Oil Oil prices rose on Tuesday for their seventh straight session of gains, touching 13-month highs as investors kept betting that fuel demand will rise while OPEC and allied producers keep a lid on supply. Brent settled up 53 cents, or 0.9%, to $61.06 a barrel. WTI crude for March was at $58.36 a barrel, up 39 cents or 0.7%. India’s fuel consumption in Jan’21 registered its first MoM decline in five months, falling…
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