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The First Anniversary of Carnage - ETF Daily News

The First Anniversary of Carnage What a difference a year can make Contango in 2020- Backwardation in 2021 OPEC uses term structure to force consumers to pay up for petroleum The trend in crude oil remains bullish, despite the correction Crude oil recovered from below the $60 per barrel level last week. The price reached its most recent high on March 8 as nearby May futures traded to $67.79, and the continuous contract reached $67.98 per barrel. Nearby Brent futures traded to a high of $71.36 on March 8 and pulled back to the $60 level before recovering. The United States Oil Fund (USO) and the United States Brent Oil Fund (BNO) follow the prices of WTI and Brent futures higher and lower.

Oil prices drop sharply as rising coronavirus cases prompt questions about demand recovery

Oil prices drop sharply as rising coronavirus cases prompt questions about demand recovery insider@insider.com (Carla Mozée) © Shannon Stapleton/Reuters Shannon Stapleton/Reuters Brent and US oil futures slide with investors concerned about rising COVID-19 cases around the world. Brent, oil s international benchmark, fell below $62 a barrel as infections increased in Brazil and India and investors watch for European developments. Vaccinations in the US are increasing but that may not be enough to quell demand worries. Popular Searches Brent oil futures, the international benchmark, dropped below $62 a barrel and US oil prices fell below $60 a barrel and gave up the gains they made after OPEC late last week said that from May to July it will add about 2 million barrels of oil each day to the market.

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