|
While crude futures declined on Friday, global benchmark Brent has rallied to its best-ever start to a year. Next week, OPEC and its allies will meet to decide on output levels, with market gauges indicating strength. WTI is $62.28; Brent is 65.87  Source: Bloomberg.com - By: Jessica Summers and Andres Guerra Luz - Image: Like Sharrett
0 Comments
Futures in New York rose to near $63 a barrel. Inventories of U.S. oil have fallen by 40 million barrels over the last three weeks, with cold-weather demand for heating fuels offsetting a rise in gasoline and crude stockpiles. The futures curve is continuing to indicate tightness. WTI is $63.61; Brent is $67.16  Source: Bloomberg.com - By: Alex Longley and Elizabeth Low - Image: Ana Maria Otero There’s been a spate of optimism across the oil market in recent weeks, with key players talking up the prospect of higher prices later in the year. Pent-up demand as the global economy recovers has even got some traders talking about the prospect of returning to $100 over the next year or two. WTI Crude is $62.04; Brent is $65.90  Source: Bloomberg.com - By: Elizabeth Low and Alex Longley - Image: Andrey Rudakov The global oil market has been under-supplied by 2.8 million barrels a day so far this year, Morgan Stanley said, boosting its Brent forecast for the third quarter to $70 a barrel. Goldman has raised its estimate for the same period to $75, while Socar said $100 was possible in the next 18 to 24 months. WTI Crude is $62.11; Brent is $65.66  Source: Bloomberg.com - By: Elizabeth Low and Alex Lonley - Image: David Paul Morris A robust recovery in demand from the Covid-19 pandemic had pushed prices to the highest settlement in more than a year last Wednesday. Some market makers see the rally accelerating as consumption outpaces supply from OPEC+ and shale. WTI is $59.75; Brent is $63.46  Source: Bloomberg.com - By: Elizabeth Low & Alex Longley - Image: Angus Mordant |
Hours: M - F 8:00 a.m. - 5:00 p.m. CentralTelephone: 844-952-7363Email: jnichols@peqtx.com |
Quotes by TradingView
|
Redhawk Investment Group, LLC offers direct and alternative oil and gas investment opportunities that enable investors to participate in the potential cash flow and the unique tax benefits associated with oil and gas investments. There are significant risks associated with investing in oil and gas offerings. The information contained in this website is for informational purposes only and is not a solicitation to buy or sell any securities. Information on this site is not intended to be used as investment or tax advice. Consult your investment advisor or tax advisor concerning the current tax laws and effects on your personal tax situation.