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   What is the average price of crude oil in 2021?

   • 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.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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   Why did crude oil prices increase in 2021?

   • 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.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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   Why did oil prices rise 1% on Wednesday?

   • NEW YORK, July 3 (Reuters) - Oil prices gained about 1% on Wednesday after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the U.S. Independence Day holiday. Brent crude futures rose $1.10, or 1.3%, to settle at $87.34 a barrel.

   Oil prices rise on deep weekly draw in US crude inventories

   www.reuters.com/markets/commodities/oil-prices-inch-up-large-us-crude-stock-draw-2024-07-03/

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   Why are oil prices rising?

   • Oil prices are experiencing their fourth consecutive week of gains, driven by seasonal demand and record-breaking U.S. travel for the Fourth of July holiday. Additionally, crude has faced supply issues related to geopolitical tensions in the Middle East and disruptions from hurricanes in the Caribbean.

   Oil Prices Near 3-Month High At $84 As US Travel Demand Hits Record…

   markets.businessinsider.com/news/etf/oil-prices-near-3-month-high-at-84-as-record-us-travel-demand-hurricane-season-impact-supply-1033523846

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2. oilprice.com › Energy › Energy-GeneralStrong Fundamentals Suggest Oil Prices Will Continue to Climb

   oilprice.com › Energy › Energy-General

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   1 day ago · Increased US travel and potential hurricane disruptions could further tighten the oil market. Analysts predict oil prices could reach $90 per barrel, with some suggesting OPEC might intervene if ...

3. www.theglobeandmail.com › business › industry-newsOil prices on track for fourth straight week of gains

   www.theglobeandmail.com › business › industry-news

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   1 day ago · Meanwhile, Saudi Arabia’s Saudi Aramco cut prices for the flagship Arab Light crude it will sell to Asia in August to $1.80 a barrel above the Oman/Dubai average, underscoring pressure faced by ...

4. www.aogr.com › magazine › cover-storyStrengthening Fundamentals Frame Bullish Oil, Gas Outlook - AOGR

   www.aogr.com › magazine › cover-story

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   3 days ago · The lack of spending–mostly in U.S. shale plays, but also internationally–means lower global oil supplies in 2021. If oil prices were to stay below $50/bbl, U.S. oil production would drift lower. Simply put, production is not sustainable at WTI strip prices in the mid- to upper $40s.

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6. www.reuters.com › markets › commoditiesOil prices rise on deep weekly draw in US crude inventories

   www.reuters.com › markets › commodities

   2 days ago · Oil prices gained about 1% on Wednesday after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the...

7. oilprice.com › Energy › Crude-OilOil Prices Rise As EIA Confirms Huge Crude Draw

   oilprice.com › Energy › Crude-Oil

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   3 days ago · Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory decline of 12.2 million barrels for the week to June 28.

8. markets.businessinsider.com › news › etfOil Prices Near 3-Month High At $84 As US Travel Demand Hits ...

   markets.businessinsider.com › news › etf

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   4 days ago · West Texas Intermediate (WTI) light crude prices, as tracked by the U.S. Oil Fund (NYSE:USO), soared above $84 a barrel on Tuesday, setting the stage to close at their highest level since April 16.

9. www.eia.gov › petroleum › weeklyThis Week In Petroleum Gasoline Section - U.S. Energy ...

   www.eia.gov › petroleum › weekly

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   3 days ago · Gasoline Production, Imports, Stocks, Supply, Prices by Grade and Sales Type, Retail City Average Prices, Data and Analysis from the Energy Information Administration.