After having taken a hit on Monday in response to the announcement of more production from OPEC+ in the near future, most of the contracts covered here saw day-on-day price increases on each of the remaining days of the week ending July 23, though DME prices were not available on Monday or Tuesday due to Eid al-Adha celebrations.
July 26, 2021
While OPEC+ was reportedly hammering out an agreement to boost production in Aug. during the week ending July 16, indications of hiccups in the demand recovery around the world weighed on sentiment.
July 19, 2021
Contradictory interpretations of the standoff between the UAE and fellow OPEC+ members pushed petroleum futures prices higher and then lower before bullish inventory and demand figures from the US EIA sparked a renewed uptick for the last two days of the week ending July 9.
July 12, 2021
Throughout most of the week, futures prices were supported by expectations that the group's meeting on July 1 would result in plans to increase production by a smaller volume than projected demand increases.
July 06, 2021
Traders seem to have become convinced that recovering demand will be able to handle production increases from OPEC+, and oil futures prices were pushed higher amid the positive sentiment.
June 28, 2021
Crude prices were pressured early in the week ending June 18 by the US EIA's forecast that US shale production will rise next month.
June 21, 2021
The ICE Brent crude futures price closed above $71/bbl on each day of the week to June 11, while NYMEX WTI peeked above the $70/bbl mark on Tuesday, slipped back on Wednesday, but then ended Thursday and Friday over the psychological barrier.
June 14, 2021
