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- Crude prices have risen, buoyed by the expectation of stronger near-term oil market fundamentals. A declining US dollar value and a rise in speculative net length added support. Investors remain bullish on the outlook for oil fundamentals. Investors bet on a tightening oil market amid s...
- Crude oil prices traded above $80 per barrel for the first time since last November, largely supported by easing concerns over the negative impact of the omicron COVID-19 variant and signs of robust oil demand in major oil-consuming countries. But will this level remain throughout the year...
- The year 2021 witnessed an upward shift in the price of oil globally, reversing the falls of previous years. After trading at around $85 per barrel in late October, Brent oil fell sharply in November to $69 per barrel by early December. It rebounded thereafter and is currently trading in the ...
- 2021 was a good year for all and the OPEC+ managed markets well to maintain a balance and oil inventories low. The scene in 2022 will be driven by several factors such as COVID-19 and its variants’ impact on demand and economy, falling OPEC+ spare capacity, and some countries inability to meet...
- Market levels are expected to remain at current levels, with medium sour grades seeing support from the heightened pace of buying. Crude oil eased early in the week as traders weighed the potential near-term oil demand impacts of rising coronavirus cases around the world amid concerns about the...
- Oil markets performed better in November with a barrel of crude at $82 as compared to December’s marginally weaker performance at $74 per barrel. Despite the difference, the price levels continue to stay firm and well supported remaining above $70 per barrel. The factors that are responsibl...
- The fall of crude prices after hitting over $80 per barrel to below $70 is seen not perceived as based on fundamentals but the downturn is driven by sentiment. The market remains uncertain mainly due to the unquantified risks from the omicron variant, and inflationary pressures. The situation...
- Brent prices averaged at $42 per barrel in November 2020, while in November 2021 at $83 per barrel, an increase of $41 a barrel. It indicates recovery in market fundamentals and demand. However, the price of a barrel of crude fell to $74 due to fears of new variants of the coronavirus reported ...
- Brent traded below $79 a barrel on Friday amid rising uncertainty regarding oil supply and demand outlooks. Market sentiment cooled due to worries about demand destruction in Europe and China amid a resurgence in COVID-19 cases and a possible release of crude oil from the US Strategic Petroleum...
- Brent prices are averaging around $84 per barrel in November 2021, which is better than the levels seen in April 2020, when prices dropped to $20 per barrel. Prices averaged lower this week due to market volatility from concerns about a new wave of COVID-19 in many countries, rising inflation...
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