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Oil Market Snapshot – July 2021 Brent Back Around $74/bbl After Post-OPEC+ "Dump and Pump"
Brent is now trading around $74/bbl, after a 10% drop of $7.72 and recovery after the next phase of the OPEC+ deal was announced, with firm demand a...
Oil Market Snapshot – June 2021 Brent Tops $75/bbl As Demand Recovery Continues
Brent has risen to above $75/bbl, after a dip to $72/bbl when the US Federal Reserve indicated it may raise interest rates to counter inflation...
Oil Market Snapshot – May 2021 Market Shrugs Off Brazil and India Covid Surge
Brent is trading c. $69/bbl, with traders focussed on the relative firmness of OECD demand
- We increase our Brent annual average forecast ...
Oil Market Snapshot – April 2021 OPEC+ Commits to Cuts Unwind As India and Brazil Ravaged by COVID
Brent is trading c. $66/bbl, even as OPEC+ commits to unwinding cuts and India and Brazil are ravaged by COVID-19
- We increase our Brent a...
Oil Market Snapshot – March 2021 Brent Volatile On OPEC+ Surprise, Euro Lockdowns, and One Stuck Ship
Rising sharply after the March OPEC+ meeting's surprise result, Brent is now trading c. $63/bbl, having flirted with $60/bbl on fresh European lockd...
Oil Market Snapshot – February 2021 Brent Adds c. $10/bbl In February As Inventories Fall And Texas Cold Snap Hits Permian
- Brent started February at $56.30/bbl and ends it above $65/bbl, with inventories continuing to draw and the Texan cold snap temporarily hitting Permian product...
Oil Market Snapshot – January 2021 Brent Solid At $55/bbl As Saudi Surprise Outweighs Fresh Lockdowns
- Brent has held at $55/bbl for most of January despite a softening of the 2021 demand picture, as Saudi Arabia announced a surprise 1 million b/d "voluntary" pr...
Oil Market Snapshot – December 2020 Brent Firm at $50/bbl Despite New COVID Strain in UK
- Brent has held above $50/bbl, up more than $7/bbl against November's average, as markets anticipate mass vaccinations despite a worsening global COVID-19 casel...
Oil Market Snapshot – November 2020 Brent Rebounds in November as Vaccine News Dominates
- Brent has hit $48bbl this week and averaged $42.42/bbl in November so far, up c. $2.23/bbl against October, as positive vaccine news fuels optimism for future ...
Oil Market Snapshot – October 2020 Brent Dips Below $40/bbl as October Ends, With France and Germany Locked Down
- Brent has averaged $40.48/bbl in October so far, down c. $1.66/bbl against September, as a second wave of COVID-19 infections across the OECD weighs on demand<...