Crude oil futures diverged on Monday, with Brent crude for August delivery surging by 8.5% to close at $38.32 a barrel amid hopes that OPEC+ producers will meet this week, earlier than previously planned, to discuss about a further extension of output cuts. Meanwhile, U.S. WTI crude was rather stable at $35.49 a barrel, but under the effect of increasingly hostile relations between the United States and China.
read more... 02/06/2020
Crude oil futures gained ground in the last trading day of the month after the release of the EIA’s report showing a further drop in oil well drilling in the United States. Hence, Brent crude for July delivery rose slightly to $35.33 a barrel, while, the more active August contract settled at $37.84, edging $1.81 higher, or roughly 5%. WTI crude for July delivery settled at $35.49 a barrel, surging $2.24, or 5.3%.
read more... 01/06/2020
Crude oil futures continued to climb in an optimistic climate on Thursday, to hit their highest settlement since March amid lower U.S. inventories and hopes for a recovery in demand for black gold. Hence, Brent crude for July delivery rose by 31 cents, or 0.9%, to settle at $36.06 per . At the same time, U.S. WTI crude gained 43 cents, or 1.3%, to end at $33.92 per barrel.
read more... 22/05/2020
Crude oil futures diverged on Tuesday, with U.S. WTI crude edging 0.4% higher, to close at $31.96 a barrel in a rather optimistic climate amid the resumption of world demand at a time when supply is absorbing. Meanwhile, Brent crude for July delivery, which struggled to take direction in a volatile trading, shed by 16 cents, or 0.46%, to settle at $34.65 per barrel.
read more... 20/05/2020
Crude oil futures climbed on Friday, as worldwide countries eased travel restrictions and following the release of better than expected Chinese industrial production data, indicating a recovery in oil demand. Hence, Brent crude settled up $1.37, or 4.4% a barrel at $32.50, while the U.S. WTI crude soared by $1.87, or 6.8%, to close at $29.43 a barrel. Both contracts posted gains for the third consecutive week.
read more... 18/05/2020