• At press time, Brent crude futures were down 13 cents, or 0.1%, at $96.46 a barrel at 1339 GMT. U.S. West Texas Intermediate crude was at $90.78 a barrel, up 28 cents, or 0.3%.
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This Week’s Market Buzz
• Brent crude futures climbed 20 cents, or 0.2%, to $104.03 a barrel at press time, while U.S. West Texas Intermediate crude (WTI) fell 64 cents, or 0.6%, to $95.70 a barrel.
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• At press time, West Texas Intermediate crude futures were trading above $122 per barrel, while Brent Crude was trading above $123 per barrel.
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• Brent crude futures dipped 4 cents at press time to $107.55 a barrel after rising 2.1% in the previous session. U.S. West Texas Intermediate crude dropped 49 cents, or 0.5% to $104.87 a barrel.
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At press time, international benchmark Brent crude ended the day at $107.91 for a loss of 4.88%. U.S. crude futures for May delivery settled 6.99% lower at $100.28 per barrel.
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Brent crude futures were up 99 cents, or 1.3%, at $75.41 a barrel at press time, while U.S. West Texas Intermediate (WTI) crude futures rose $1.08, or 1.5%, to $72.02.
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At press time, Brent crude was $83.33 a barrel. It earlier hit a high of $84.23 a barrel and a low of $82.72 a barrel. West Texas Intermediate rose to $80.58 a barrel, after ranging between $81.62 and $79.47.
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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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• A Reuters poll of analysts in late December showed a broad expectation that Brent Crude will average “a smidge above $50/bbl this year,” PVM Oil Associates said. U.S. benchmark West Texas Intermediate crude futures broke above $50/bbl this week for the first time since February, boosted by a surprise announcement by Saudi Arabia of a 1 million barrel-per-day production…
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