A bullish International Energy Agency (IEA) report sent crude oil above $71.00 per barrel for the first time since 2018. US and Iran will resume talks this weekend. Will a deal be reached?
Oil Q2 2021 Fundamental Forecast of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News 2021-04-12 17:00:00 Rich Dvorak, Analyst
Crude Oil Fundamental Forecast: Supply & Demand Dynamics to Bolster WTI Prices
Crude oil price action staged a remarkable rally during 1Q-2021. In fact, the commodity surged as much as 40% at its year-to-date high around $68.00 a barrel in ear
Oil Q2 2021 Fundamental Forecast 2021-04-03 09:00:00 Rich Dvorak, Analyst
Crude Oil Fundamental Forecast: Supply & Demand Dynamics to Bolster WTI Prices
Crude oil price action staged a remarkable rally during 1Q-2021. In fact, the commodity surged as much as 40% at its year-to-date high around $68.00 a barrel in early March. The strong bid beneath crude oil broadly tracked market optimism surrounding covid vaccine developments, massive fiscal stimulus packages, and improved outlook for global GDP growth. That said, during the second half of March, virus fears resurfaced and seemed to be pressuring the commodity. Is this stretch of short-term weakness set to continue into 2Q-2021 or will crude oil resume its ascent?
Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
Crude Oil Forecast: Backwardation Hints at Gains with OPEC JMMC on Tap 2021-01-30 08:00:00 Daniel Moss, Analyst
Crude Oil Fundamental Forecast: Bullish
Crude oil futures backwardation suggests that prices may climb higher in the near term.
Accelerating vaccination rates and a marked decline in global Covid-19 cases could underpin oil prices.
The upcoming OPEC JMMC meeting will be keenly eyed by investors.
Futures Backwardation, Climbing Vaccination Rate Hints at Gains
The price of oil has remained resiliently poised above $52 a barrel as data points out of the US instilled an improved outlook for demand, with crude inventories falling 9.91M in the week ending January 22 versus forecasts for a 0.43M rise. At the same time, figures coming out of the Energy Information Administration (EIA) showed crude production narrowing to 10,900K after holding at 11,000K for five consecutive weeks.