In hope of greater market certainty
The key questions for 2021’s oil markets remain tough to answer. But milestones on the road will make the picture clearer
Coronavirus has dominated the oil markets this year, and the same is expected for next year. Front-month Ice Brent prices surged by $10-12/bl in early December compared with end-of-October levels, trading at c.$47-49/bl, the highest prices seen since March. Markets have been buoyed by positive developments on Covid-19 vaccines, which are expected to boost the global economy and oil demand through the second half of 2021. From a demand perspective, oil traders are simultaneously dealing with two extremes: a potential worsening situation in the coming few months from coronavirus infections, the global economy and oil demand, but, in the second half of next year, the exact opposite. At this ear
Also in this section
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
