Oil & Gas Prices
Daily Commodity Report: Oil Price Up Again After Monday's Lull; Matches Friday's Highs
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Commodity Price Summary - January 12, 2021
Oil prices rose slightly from yesterday, returning to comparable highs seen on Friday (1/8). WTI rose to $52.69 / barrel and Brent hit $56.20 / barrel.
The price recovery seen in recent weeks has been largely fueled by the deployment of the COVID-19 vaccines worldwide.
Despite prices showing relatively stable gains in recent weeks, E&Ps are largely looking to keep spending and production plans conservative for 2021, with the majority planning to only slightly increase spending and production YOY.
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