It’s been almost a year since the day oil prices turned negative as a result of the Covid-19 downturn. A lot has happened since then, and prices have recovered, but it will take a while for the oil market to forget
WTI
Posted inDRILLING & PRODUCTION
Oil lightly trims but holds on to this week’s gains, on demand positivity and US inventories dip
Oil prices kept most of the previous day’s gains, only trimming excesses, as the market is up on demand positivity and a recent surprise dip in US crude stocks
Posted inDRILLING & PRODUCTION
Oil rises on expectations for an uptick in demand later in 2021
Oil prices rose on Wednesday as traders priced in forecasts that demand will increase later this year, feeding a bullish market reaction
Posted inDRILLING & PRODUCTION
Oil falls on gasoline stocks and AstraZeneca hiccup
Oil prices fell on Thursday as a result of a steep rise in gasoline stock levels in the US and concerns over the AstraZeneca vaccine future usage
Posted inDRILLING & PRODUCTION
Oil turbulent as Covid-19 infections and US stocks battle against positive economic data
Oil prices swing from gains to losses today amid the Covid-19 infections growth, US stocks surprises and some positive economic data
Posted inDRILLING & PRODUCTION
Oil rises on OPEC+ meeting expectations
Oil prices rose on Thursday as the market expects the OPEC+ alliance to maintain current production levels and not bring back any of its curtailed output due to the lagging oil demand recovery
Posted inDRILLING & PRODUCTION
Supply deficits to propel commodities higher in Q2: Saxo Bank
Following a near decade of trading sideways to lower, the sector has embarked on a strong rally with individual commodities reaching multi-year highs
Posted inDRILLING & PRODUCTION
Oil gains on bullish expectations for the coming OPEC+ meeting
Oil prices rose on Wednesday as the market expects OPEC+ to keep a conservative output policy in the following day’s meeting, due to the speed lag of the oil demand recovery
Posted inDRILLING & PRODUCTION
Higher oil prices will not quickly reverse balance sheet deterioration
When higher oil prices result in higher revenues, governments may choose to allow their fiscal balances to improve or to increase spending to support their economies
Posted inDRILLING & PRODUCTION
Oil falls on Suez Canal blockade breakthrough and increasing Covid-19 cases
Oil prices fell on Monday as the Suez Canal blockade is getting closer to a resolution and as global Covid-19 infections rose for a fifth consecutive week