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Oil Market Snapshot – September 2020 Brent Falls to c. $42/bbl in September As COVID Resurgence in Europe Dents Demand Hopes
- Brent has averaged $42.14/bbl in September, down c. $3/bbl against August, with a second wave of infections rising in Europe raising concerns over demand as co...
Oil Market Snapshot – August 2020 Brent Rises to $45/bbl in August, But Demand Concerns Continue to Threaten
- Brent has traded around $45/bbl in August, after four consecutive weekly US crude inventory draws, though stocks remain elevated
- Still, global COVID...
Oil Market Snapshot – May 2020 Brent Holds Around $35/bbl As US Inventories Peak Amidst Talk Of Extended Cuts
- Brent has risen to c. $35/bbl in May as demand lifts from its lows, US inventories ease and OPEC+ cuts start to take effect, though the benchmark was a little ...
Oil Market Snapshot – April 2020 Demand Leads Supply, With OPEC+ Deal Fragile and Inadequate
- Brent has fallen to $22/bbl despite a fresh agreement on April 13th to curtail global production by 9.7 million b/d, while May WTI closed at -$37/bbl, negative...
Oil Market Snapshot – March 2020 Brent Routed After OPEC's Last Waltz with Russia in Vienna, Pandemic
- Brent has been routed to $26/bbl, as the world implements measures to tackle the COVID-19 pandemic and the OPEC+ agreement collapses
- We now see Bren...
Oil Market Snapshot – February 2020 COVID-19 Rattles Markets, As Russia and Saudi Are Split on OPEC+ Response
- Brent has collapsed to $50/bbl on 28th February, after a brief bounce at $55/bbl, as fears of weaker demand grip global markets due to the coronavirus outbreak...
Oil Market Snapshot – January 2020 Coronavirus Outbreak Spooks Traders Over Demand Concerns
- After a spike to c. $70/bbl in the wake of the assassination of Iranian General Qassim Soleimani, Brent has collapsed to $60.15/bbl on expectations of weaker d...
Oil Market Snapshot – December 2019
• Brent has held firm in December, trading at $66.38 on 17th December, as the OPEC+ group reached a new deal and the US-China trade war looked to be nearing a ceasefire...
Oil Market Snapshot – November 2019 No New Targets As Saudi Arabia Attempts To Enforce Compliance
Brent recovered slightly in November, trading at $63.87 on 28th November, against October’s average of $59.71/bbl. Less headwind from recent macro-economic data, combi...
Oil Market Snapshot – October 2019 Saudi Arabia's Quick Recovery Keeps Brent Flat
Brent has fallen back to August levels in October, trading between $58/bbl and $62/bbl. After Saudi Arabia achieved a swifter return to production than many expected, co...