Oil prices corrected excess gains that accumulated from the Suez Canal blockade as the disruption’s effect is likely not one that will last too long, while US stocks rose last week
WTI
Posted inProducts & Services
Snap back to Covid reality
For now, world is stuck with vaccine shortages, outdated test results from AstraZeneca that shakes the general trust and the third wave of contamination knocking at the door
Posted inDRILLING & PRODUCTION
Oil rises on Suez blockage and European purchases, but lockdowns take toll
Oil prices rose on Wednesday due to a blockage at the Suez Canal, which prevents normal traffic of oil tankers, but concerns that heavy lockdowns in Europe will affect the demand recovery still keep prices lower than few weeks ago
Posted inDRILLING & PRODUCTION
Oil dips on US stocks projections and Covid-19 vaccine setbacks
Oil prices are declining today as the market fears crude stock levels in the US could rise again and as the speed of the global oil demand recovery is under threat amid Covid-19 vaccination campaign setbacks
Posted inDRILLING & PRODUCTION
Oil prices strong on China industry data, US stimulus and coming refinery maintenance
Oil prices hold strong close to $70 per barrel on Monday due to the effect of strong China industry data, the US stimulus package and coming refinery maintenance
Posted inDRILLING & PRODUCTION
Oil stable after Tuesday’s dip, waiting for official US stocks data
Oil prices are largely stable today after Tuesday’s decline, waiting for a direction to form after official US stocks data get published
Posted inDRILLING & PRODUCTION
Oil prices jump on US production shut-ins but refinery outages provide pillow
Oil prices jumped on Wednesday as the extreme cold weather the US is experiencing is impacting oil production, but refinery outages limit the price ascent
Posted inDRILLING & PRODUCTION
Oil prices rise on US supply slowdown and an overall bullish market sentiment
Oil prices jump again as cold weather causes US supply growth slowdown, in addition to an overall bullish market sentiment
Posted inDRILLING & PRODUCTION
Daily oil price update: Oil rally takes a break on demand lag and vaccine concerns
Oil prices are being modestly trimmed today as a multi-day rally came to a stop, with the market pricing in concerns over oil balances and vaccination campaign lags
Posted inDRILLING & PRODUCTION
Oil rises on projected US crude draws and vaccine confidence
Oil prices continue their phenomenal rally on projections that US storage levels fell last week and on confidence that vaccine production and distribution will accelerate