US Brent Oil (NY: BNO )
19.49 USD +0.36 (+1.88%) Official Closing Price Updated: 8:00 PM EDT, Jul 29, 2021 Add to My Watchlist
All news about US Brent Oil
The excitement following the recent OPEC meeting is now a dim and distant memory and as the waters calm following the market’s knee-jerk reaction, it’s business as usual for crude oil.
EIA Crude oil Inventory Fell 4.1 Million Barrels
Today 0:44 EDT
The U.S Energy Information Administration has released its Weekly Petroleum Status Report on Wednesday, where it shows some good news about the U.S oil market and consumption.
European Power Markets Ease But Prices Remain High
July 27, 2021
European power prices are benefiting from an uptake in power demand, strong commodities markets, and the ‘Fit for 55 strategy’ by the European Commission, which supports carbon prices.
SPX Going For The Major Top?
July 25, 2021
SPX rallied sharply from its short-term cycle low and immediately made a new high. As long as the cycle holds out, it could push to 4440+ before finding the next short-term top.
The price of oil snaps the series of lower highs and lows carried over from the previous week as it extends the rebound from the monthly low.
Crude Oil Price Forecast: Delta Variant Concerns Spark Sharp Reversal - The Macro Setup
July 20, 2021
Crude oil broke beneath a key trendline from March 2020 after reversing around the $67 mark. Demand concerns and a strong USD could continue to eat away at crude prices in the coming days.
OPEC+ Reaches Deal To Raise Oil Production, Increase Supply Limits Amidst Rising Prices
July 18, 2021
OPEC and its allies reached a deal on Sunday to raise oil production in response to rising prices and phase out 5.8 million barrels per day of oil production cuts by the end of 2022.
Intermediate Market Top Reached?
July 18, 2021
It has been a long steep climb for SPX since the March 2020 low. Is it coming to an end? There are signs of rolling over in the trend itself, and these are especially noticeable in the various...
The price of oil slips to a fresh weekly low as the United Arab Emirates Ministry of Energy & Infrastructure retweets the Emirates News Agency that negotiations within OPEC+ are ‘still continuing’.
GBP/USD snaps two day losing run after UK CPI came in higher than forecast. WTI oil slips after Chinese oil imports fall in H1. EIA data in focus.
Market Briefing For Wednesday, July 14
July 14, 2021
Negative divergences increasingly creeping into the NY market are reflected a good bit by the S&P shuffles, and overall big-board technicals. Though, yields were up with a mediocre Treasury Auction,...
WTI Slides From 33-Month Highs After Inventory Data
July 13, 2021
Analysts expected an 8th straight week of drawdowns in crude stocks but the draw was smaller than expected and less than the prior week.
Probing For A Top
July 11, 2021
The S&P 500 Index is in the process of creating a double-top which will push prices back into the short-term cycle low. The extent of the decline into that time frame and the following rebound will...
The price of oil attempts to retrace the decline from the yearly high as US inventories fall 6.866M in the week ending July 2 after narrowing 6.718M the week prior.
Oil, Energy Sector ETFs Gain on Improving Fundamentals
July 08, 2021
Crude oil and energy sector-related exchange traded funds were among the small areas of the market that bucked the overall negative trend Thursday after a government report revealed rapidly declining...
From ETF Trends
Two Trades To Watch: EUR/USD, WTI Oil - Thursday, July 8
July 08, 2021
EUR/USD consolidates around 1.18, ECB strategy report & US jobless claims in focus. WTI oil looks to OPEC+, EIA inventories for further clues.
WTI hovered just below $72 ahead of the print but jumped above it when the Dubai tanker explosion news hit.
Oil’s Price Drop and OPEC’s Failure to Deal
July 07, 2021
Yesterday we received the news that OPEC failed to reach an agreement after several days of meetings. Why did WTI futures give a bit of a head fake immediately afterward?
Oil Update - Wednesday, July 7
July 07, 2021
US Crude Inventory continues to be drawn lower and is now 3mil BBL away from falling below the 3.5% Growth Trend Line representing low inventories since 2003.
Oil update: Target reached
July 06, 2021
Crude Oil continues to rise to multi-year highs as Saudi Arabia and the UAE fail to agree on an OPEC output increase.
Oil Jumps After OPEC+ Abandons Meeting With No Deal
July 05, 2021
OPEC+ failed to reach a deal and called off a meeting planned for today, leaving the oil market to contend with much tighter supplies than had been expected.
Projection Reached - Cycles Topping
July 04, 2021
NDX strength combined with a rally in DJIA has enabled the SPX to reach its phase projection, and this could lead to the start of an intermediate correction, especially with breadth making such a poor...
Is This a Commodity or A Meme?
July 01, 2021
The price of oil has recently performed more like a meme stock than a stodgy, dirty commodity. It is not a pleasant situation for energy consumers.
The price of oil may continue to exhibit a bullish trend as the recovery in global demand is met with limited supply.
Brent jumped back over $75 this morning - cementing a stellar first half for oil which saw oil prices rise by 50% for its best half since 2009.
WTI Extends Gains After 6th Weekly Crude In A Row
June 29, 2021
Very mixed bag in the API with a bigger than expected crude draw (6th weekly draw in a row) and bigger than expected product builds.
As expected it was another positive week for crude oil for the WTI August contract which closed at $74.05 per barrel.
Exxon, EOG and Oil
June 28, 2021
There are multiple forecasts for $100/BBL oil prices. Should this occur in the current cycle, EOG and XOM are likely to be priced accordingly.