This Week’s Market Buzz

• Oil prices jumped 3% at press time, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant. Brent crude climbed $2.59, or 3.9%, to $67.75 a barrel after touching its lowest since May 21 at $64.60. U.S. West Texas Intermediate (WTI) crude for October…

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This Week’s Market Buzz

• At press time, West Texas Intermediate crude for September delivery rose 16 cents, or 0.2%, to settle at $72.07 a barrel on the New York Mercantile Exchange. That led the U.S. benchmark up by 0.7% for the week, based on the front-month contract, according to Dow Jones Market Data. September Brent crude the global benchmark, added 31 cents, or…

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This Week’s Market Buzz

Oil prices edged up at press time, putting both benchmarks on track for a fifth consecutive week of gains on expectations demand growth will outstrip supply and OPEC+ producers will be cautious in returning more crude to the market from August. Brent futures rose 32 cents, or 0.4%, to $75.88 a barrel, while U.S. West Texas Intermediate (WTI) crude rose…

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This Week’s Market Buzz

Goldman Sachs has reiterated its forecast that Brent crude will hit $80 per barrel this summer as demand quickly recovers. “Rising vaccination rates are leading to higher mobility in the United States and Europe, with global demand estimated up 1.5 million barrels per day (mb/d) in the last month to 96.5 mb/d,” the investment bank said in a note as…

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