|
Futures held above $73 a barrel in New York, up 1.9% this week even as some countries renewed curbs on movement amid a spike in Covid-19, most notably in Southeast Asia. Prices were supported by a further plunge in U.S. crude inventories -- the ninth in 10 weeks -- and signals that the Federal Reserve will continue measures to support the economy. WTI is $73.42; Brent is $76.06  Source: Bloomberg.com - By: Jill R Shah - Image: Luke Sharrett
0 Comments
Global inventories are expected to tighten through the rest of the year as key energy consumers continue to rebound from the pandemic, although the latest Covid-19 resurgence is raising concerns about the short-term demand outlook. The fast-spreading delta variant has led to renewed restrictions in some regions, putting crude on track for its second monthly loss since October. WTI is $72.14; Brent is $74.82  Source: Bloomberg.com - By: Jill R Shah - Image: Luke Sharrett The rapid spread of the delta variant of the coronavirus is causing unease amongst market players as demand forecasts might have to be revised downwards due to the re-introduction of lockdowns and mobility restrictions all over the world say some analysts. WTI is $71.94; Brent is $74.68  Source: Bloomberg.com - By: Grant Smith and Elizabeth Low - Image: Kyle Grillot Futures dropped to trade near $72 a barrel after a volatile week of trading that saw prices swing wildly in a $7 range. Demand for fuels such as gasoline has increased as vaccination programs are rolled out, although the delta variant has raised concerns about the short-term outlook. Tight restrictions have been renewed including curfews in some places. WTI is $71.97; Brent is $74.13  Source: Bloomberg.com - By: Elizabeth Low and Alex Longley - Image: Oliver Bunic West Texas Intermediate futures were steady near $72 a barrel of Friday after rallying about 8% in the past three sessions. Crude plunged on Monday as fears over the delta coronavirus variant’s spread triggered a selloff across financial assets. Prices have since rebounded on expectations that the oil demand recovery hasn’t been derailed, and will soon strain global inventories. WTI is $71.73; Brent is $73.57  Source: Bloomberg.com - By: Grant Smith and Saket Sundria - Image: Luke Sharrett |
Hours: M - F 8:00 a.m. - 5:00 p.m. CentralTelephone: 214-624-9867Email: 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.