Brent Crude Oil July 2021 Mini Market Commentary

Daily Trend: UP

Source: ICE Connect

Brent price reached a high at $76.80 early July and fell rapidly in the third week to a low of $66.91 in what appeared to be a market response to the OPEC meeting on 1st July. During the final week of July as price recovered, we saw a break of the positive correlation to DXY.

Upcoming High Impact Events -

  • OPEC+ countries to increase supply of oil in August by 400,000 barrels per day through to December

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TRADDICTIV · Research Team

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