Oil prices are hovering in the low $74 range this morning, not far from their pre-July 4th peak. The International Energy Agency (IEA) released their monthly oil market report, which noted several bullish trends in the short-term. Oil demand rose by 3.2 MMbpd in June, representing a 3.4% increase month-over-month. Moreover, last month’s demand gains […]
This morning the price of crude passed $70 as COVID-19 restrictions loosen around the world and investors predict demand for oil to soar in 2021. Prices have been dipping recently as a result of COVID cases’ surging in Asia and the reopening of the Colonial Pipeline (CPL), but there are optimistic signs of recovery in […]
Oil prices were brought to a crescendo yesterday, leading to the highest closing price for crude oil since September. That said, prices remain within the trading range we’ve seen for most of the year, between $50-$60/bbl. Crude oil this morning is trading at $58.63, up a nickel from yesterday’s 2-month high. Fuel prices also got […]
