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Commodity Price Summary - January 14, 2021
Oil prices posted gains from earlier today, returning to comparable highs seen earlier in the week. WTI rose $0.86 to $53.60 / barrel and Brent hit $56.30 / barrel after gaining $0.72.
COVID-19 vaccine deployment has contributed to the the sustained price recovery the industry has seen over recent months. Many investors and analysts express confidence that the economy will soon regain traction as more and more people are vaccinated.
The recent OPEC+ decision to curtail production also has helped keep prices elevated.
These factors have even helped shield prices from any adverse effects related to the tense political climate in the U.S.
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