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Crude Oil - data, forecasts, historical chart - was last updated on July 6 of 2024. Crude Oil increased 11.69 USD/BBL or 16.31% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
- Oil at $80 Sows The Seeds of Volatility in Supply and Demand
- Cruising Altitude: Physical Tightening Hits Top of The Price Band
- Draws Roll on in 4q21 - 2022 Balances Reflect A More Delicate Dance
- Us Crude Oil at The Heart of Global Deficits
- Delta Fatigue: Deep Lockdown Risk Fades, But Regional Divides Grow
As markets approach normalization, higher prices breed reactivity in fundamentals, with supply gradually eclipsing the demand story 1. After the demand surge. Oil markets are objectively in a good place with a clear path towards structural tightening for the first time since the 2014 crash. Physical market tightening picked up pace as the vaccine-i...
Momentum has nudged prices higher, but global deficits may be at their peak with no change to structural price determinants in 2022 1. Short-term momentum pushes 3Q2021 prices higher, but we see no catalyst for a revision to our 2022 outlook. As a result of recent upside pressure and physical indicators, we have lifted our outlook for 3Q2021 prices...
Short term tightening to endure, but 2022 looks less clear cut. The relative slowdown in the rate of tightening in the first quarter gave way to a sharp acceleration in draws over the second quarte...
Perfect storm strikes US crude storage tanksThe acceleration in global crude market tightening over the past couple of months has played out most visibly in weekly US statistics, particularly for c...The combination of high exports and high runs (90+% capacity utilization) have been the main drivers of the nearly 50 MMbbl in crude stock draws over the past three months, yet some of the math is...WTI is now more expensive than (or at parity with) 2nd month DME futures for Mideast medium sour crude and ~$1.60 cheaper than its Atlantic Basin cousin light sweet ICE Brent, yet exports remain ro...Global oil demand recovery plays out according to plan, but variants and slow vaccination outside of developed markets mean hopes of a swift boom in “pent-up” demand above 2019 levels looks unlikel...In our base case outlook, refined fuels consumption blossoms 4.6 MMb/d between June and December. Light distillates account for 2.3MM b/d of this forecast and are on their way to meet expectations...One quarter of this increase is in jet fuel and kerosene, concentrated in the US, Asia (ex. mainland China), Latin America and Europe. The delta variant increasingly puts this consumption at risk,...Mar 13, 2022 · Source: U.S. Energy Information Administration. (13 May 2021) Brent crude oil prices will average $62.26 per barrel in 2021 and $60.74 per barrel in 2022 according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA).
- Alex Kulikov
Oct 14, 2021 · Crude oil prices hit a seven-year high in early October boosted by energy supply concerns and continued oil stock draws. North Sea Dated prices rose by $3.65/bbl on average in September to $74.40/bbl and WTI at Cushing $3.84/bbl to $71.56/bbl. Strong backwardation restrained crude price differentials to marker crudes over the month.
Jan 4, 2022 · Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply. The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in ...
Dec 14, 2021 · For 2021 as a whole, refinery runs are forecast to rise by 3.1 mb/d on average, recovering just 42% of 2020’s decline. Another 3.7 mb/d increase in throughputs is expected in 2022. OECD total industry stocks fell by 21.2 mb in October, as a build in crude oil inventories was more than offset by sharply lower product stocks.
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How much will Brent crude oil cost in 2021?
Why did crude oil prices increase in 2021?
Our crude oil price outlook is largely unchanged from last month’s outlook. Our projection for Dated Brent in second half 2021 is to average $70.75/bbl and for WTI to average $67.90/bbl. For 2022, our Dated Brent and WTI projections are $66/bbl and $63/bbl, respectively.
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