The price of crude oil declined slightly after the latest OPEC+ meeting. The leaders met during the weekend and agreed to gradually ease some of its production cuts between May and July.
Read moreCrude Oil Price Retreats as OPEC+ Hints at supply Hikes
Brent Oil advanced near $60 a barrel as global supplies tighten and the demand outlook improves with the rollout of Covid-19 vaccines.
Read moreBrent Oil Extends Advance Toward $60 on Tightening Global Market
Crude oil prices have stormed higher since falling to multimonth lows at the start of November, climbing over 40% in the last 6 weeks on the back of positive Covid-19 vaccine progress and the decision by OPEC+ to ease output cuts more moderately than expected.
Read moreCrude Oil Prices May Extend Gains as Investors Eye OPEC JMMC Meeting
Crude Oil was steady in New York ahead of the rollout of the first Covid-19 vaccine in the U.S., raisingoptimism of a recovery in fuel demand in the world’s biggest crude consumer.
Read moreCrude Oil Steady Near $47 Ahead of U.S. Coronavirus Vaccine Rollout
WTI Crude Oil Above 43.65 Next Target $45——$47 (Buy on Dips) – crude oil prices entered a brief consolidation after hitting a key chart resistance level at US$ 46.30.
Read moreWTI Crude Oil Above 43.65 Next Target $45——$47 (Buy on Dips)
The U.S. Bureau of Safety and Environmental Enforcement (BSEE) said 91% of offshore crude oil production remains shut in the U.S.-regulated northern Gulf of Mexico following Hurricane Delta, which made landfall on Friday.
Read moreRegulator says 91% of U.S. Gulf crude oil production remains shut after hurricane