crude oil

Crude Oil Price Hits New 2021 High On Rising Demand

Crude oil prices rose for a fifth straight day on Wednesday, hitting $75 a barrel to attain its highest levels in 2 years. The increase in crude oil prices is due to a recovery-driven demand, as well as a sharp drop in U.S. crude oil inventories. The Energy Information Administration […]

Crude Oil Rises As Fears Over Iran-Induced Glut Fade

Crude oil price on the Brent benchmark shot up to 1-week highs after fears that additional crude oil supply from Iran could create a supply glut faded. Brent crude saw some dip-buying, and this situation enabled crude oil prices to push off intraday lows at a critical support level on […]

Crude Oil Price Slips 3.5%: Further Losses Look Likely

Worries over inflation and the deteriorating Covid situation in India have capped the recent rally, sending the crude oil price sharply lower. In a report released yesterday, I discussed some possible headwinds facing the oil market. The crude oil price exceeded my downside target of $64.20 and traded as low […]