Energy Market

oil price

Despite an Increase in US Inventories, Oil Prices Rising

Oil prices climbed on July 21, 2021. Despite reports indicating an unexpected surge in US oil inventories last week and a lower demand outlook due to rising COVID-19 infections, it continued gains from the previous session. Crude futures climbed about 84 cents, or 1.2 per cent, and were trading at $70.19 per barrel at 0840 …

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Agricultural commodity

Oil May Reach $100 as The Commodities Boom Moves Away from China

Prices for commodities ranging from corn to copper to oil skyrocketed in the first half of 2021 due to pent-up demand and supply bottlenecks caused by the COVID-19 epidemic. According to Saad Rahim, chief economist of Trafigura, the rally’s dynamics are shifting. Additional broad-based increases appear likely, one of the world’s major commodity-trading firms. China …

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Invest in Oil industry

Oil Market’s Rebound Expectations Might Be “Too Optimistic”

Strong economic recovery in the U.S. and global oil pick-up looks hopeful for investors, raising their expectations. However, according to energy analyst Vandana Hari, these expectations might be overly optimistic. Several U.S. states have moved COVID-19 restrictions and regulations, meaning that normalcy is gradually returning to the country. According to Vandana Hari, the U.S. mobility …

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Oil Prices Fall, gas, OPEC Meeting Remains Uncertain

OPEC’s delayed decision on the oil output level rose prices

OPEC’s delayed decision on the oil output level rose prices after OPEC+ internal strife delayed production levels. New York Oil maintained most of its overnight gains. Disagreements within the Organization of the Petroleum Exporting Countries and its allies have delayed the decision on the production level. If not resolved, this may lead to a surge …

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