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West Texas Intermediate

Oil rises but remains rangebound as COVID-19 cases soar
Markets

Oil rises but remains rangebound as COVID-19 cases soar

  • However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
  • "Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.
Published 12 Apr, 2021 05:59pm
Oil outlook for 2021 hit by new COVID-19 strain
Markets

Oil outlook for 2021 hit by new COVID-19 strain

  • Pace of oil demand recovery to depend on vaccine rollouts –analysts.
  • Some analysts say no return to pre-pandemic levels before 2023.
  • OPEC to meet on Jan. 4 to decide on output.
  • Brent has averaged $43.21/bbl in 2020, WTI about $39.34.
Published 31 Dec, 2020 06:45pm