By Tom Whipple, Steve Andrews, The Energy Bulletin
The course of the coronavirus continued to roil the oil markets last week. After a 10 percent gain since the beginning of the year, oil reversed last week as new outbreaks of the virus accompanied by recent lockdowns appeared worldwide.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Crude futures rode a late session upswing to end 2020 higher, as the market looked to a Jan. 4th OPEC+ meeting for direction. WTI settled at $48.52, and Brent settled at $51.80.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Weekly prices declined for the first time since October, as a new coronavirus mutation spread through parts of the world and poses risks to energy demand.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Prices rose for a seventh straight week as efforts to pass another US virus relief package added to optimism that the vaccine’s rollout will provide a boost in demand. Futures rose 1.5 percent in New York on Friday, extending this week’s rally to over 5 percent.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Oil managed a small weekly gain last week as the impasse in Washington over pandemic relief dimmed chances of an imminent boost in demand.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Prices rose for a fifth straight week with support from the OPEC+ deal and hopes for another round of US stimulus.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Prices rose for a fourth straight week, buoyed by optimism over Covid-19 vaccine progress ahead of an OPEC+ ministerial meeting this week.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Last week. prices rose to the highest in nearly three months, with positive Covid-19 vaccine developments paving the way for a more sustained oil demand recovery. F
By Tom Whipple, Steve Andrews, The Energy Bulletin
Futures fell 2.4 percent in New York on Friday, closing at $40.13, but still posted the largest weekly gain in a month as optimism about a potential Covid-19 vaccine jolted markets earlier in the week.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Expectations over OPEC+ delaying its planned output increase in January and a post-election rally in equities helped crude prices with a strong start last week.
By Tom Whipple, Steve Andrews, The Energy Bulletin
Oil posted its largest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery.