Even though supply-side concerns related to Hurricane Beryl dissipated early in the week and the risk premium associated with geopolitical tensions in the Middle East faded somewhat later in the week amid ceasefire negotiations, futures prices for benchmark crudes hit fresh multi-week highs.
July 07, 2024
Concerns about potential supply disruptions related to the wars in the Middle East and Europe outweighed news of weak supply/demand balances.
July 01, 2024
Demand optimism from the previous week continued while geopolitical issues in Europe and the Middle East prompted concerns about potential supply disruptions.
June 24, 2024
Upbeat forecasts for demand growth in 2024 and 2025 bolstered futures prices.
June 17, 2024
OPEC+'s decision to allow some members to begin unwinding production cuts beginning in Oct. as well as mixed views on when the US Federal Reserve may begin cutting interest rates pressured futures prices.
June 10, 2024
Traders were focused on lackluster demand in the US throughout much of the week.
June 03, 2024
Concerns about stubborn inflation and high interest rates in the US held the attention of traders throughout most of the period.
May 27, 2024
Expectations of improving demand as well as the potential for localized supply disruptions pushed prices higher.
May 20, 2024
A shortage of market-moving news helped keep prices relatively steady over the period.
May 13, 2024
Peace talks in the Middle East and renewed demand concerns dragged on futures prices for benchmark crudes.
May 06, 2024
