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Oct 14, 2021 · Oil prices are scaling multi-year highs as a shortage of natural gas, LNG and coal boosts demand for oil, which could keep the market in deficit through at least the end of the year. Brent crude futures rose by more than $10/bbl to surpass $83/bbl, while WTI traded above $80/bbl at the time of writing.
- Oil Market Report - May 2021 – Analysis - IEA
Crude prices rose in April and May boosted by strong...
- Oil Market Report - May 2021 – Analysis - IEA
Following another hefty inventory decline in September, benchmark crude oil prices surged by $9/bbl to fresh highs above $86/bbl for Brent and $84/bbl for WTI. However, preliminary data and satellite observations of stock changes in October suggest the tide might be turning.
Crude prices rose in June on bullish oil fundamentals and financial markets. Backwardation steepened on crude futures contracts reflecting tighter markets and falling oil stocks versus demand. North Sea Dated rose $4.41/bbl in June to $72.96/bbl and peaked at $77.70/bbl on 5 July following a deadlock in OPEC+ negotiations to ease supply ...
May 12, 2021 · Crude prices rose in April and May boosted by strong economic trends, supply-side concerns, and despite surging Covid cases in some regions. Crude futures rallied by some $7/bbl from a 5 April trough, to $68.81/bbl for ICE Brent and $65.31/bbl for NYMEX WTI on 10 May.
Crude prices rose ~$3.35/bbl m-o-m in March and were up a steep $32/bbl on year-ago levels. Stronger economic prospects have steadily boosted prices from November. They hit a 22-month high in mid-March, before easing on plentiful supplies.
Jan 4, 2022 · Brent’s 2021 annual average of $71/b is the highest in the past three years. The price of West Texas Intermediate (WTI) crude oil traced a similar pattern to Brent and averaged $3/b less than Brent in 2021. Global petroleum production increased more slowly than demand, driving higher prices.
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Aug 12, 2021 · Crude oil held in short term floating storage increased by 4.5 mb to 103.6 mb in July. The 2Q21 crude price rally lost steam in July on fears that new Covid-19 Delta cases and weaker economic indicators could slow the oil demand recovery just as more supply hit the market.
