What is Affecting Oil Prices This Week?

Oil well

Sign up for our weekly commentary on the future of oil prices

Each week, Stratas Advisors provides a look at the key drivers affecting the price of oil. This commentary draws from the collective analyses of the Short Term Outlook service, which comprehensively covers the world’s key benchmark prices and fundamentals for over 50 product types (including crude oil, natural gas, electricity, petrochemicals, and refined products) with nearly 500 individual price and margin forecasts available across all major geographies.

Price volatility is here to stay, making strategic goal-focused corporate planning more important than ever. Amidst an ever-changing commodity landscape, access to timely, actionable analysis is imperative. Sign-up for weekly access to our commentary. 

  • Sept 13, 2021: Back to the Trend?

    The price of Brent crude ended the week at $ 72.92 after closing the previous week at $72.48. The price of WTI crude ended the week at $69.72 after closing the previous week at $69.10.

  • Sept 7, 2021: Better Days Ahead?

    The price of Brent crude ended the week at $72.48 after closing the previous week at $71.67. The price of WTI crude ended the week at $69.10 after closing the previous week at $68.67.

  • Aug 30 2021: Chronic Not Severe?

    The price of Brent crude ended the week at $71.67 after closing the previous week at $65.00. The price of WTI crude ended the week at $68.67 after closing the previous week at $62.25. With last week’s rebound, oil prices are back above the support levels of around $70.00 for Brent crude and $66.00 for WTI crude.

  • Aug 23 2021: Support did not hold

    In last week’s note we highlighted that there was significant downside risk to oil prices stemming from the rebound in COVID-19 cases and slowing economic growth – including China’s economic growth.

  • Aug 16, 2021: More downside risk than upside risk

    The price of Brent crude ended the week at $70.25 after closing the previous week at $70.49. Price movements were bumpy with the price of Brent crude reaching a low of $69.04 and a high of $71.44. The price of WTI crude ended the week at $68.03 after closing the previous week at $67.84, and after exhibiting the same bumpiness as Brent crude.

  • Aug 9, 2021: Will Support Hold?

    For several weeks, we have been highlighting the downside risk stemming from the reemergence of COVID-19, along with other factors, including a strengthening US dollar – and last week we saw the market react to these risk factors.

  • Aug 2, 2021: Tracking Well – So Far

    The price of Brent crude ended the week at $75.22 after closing the previous week at $74.19. The price of WTI crude ended the week at $73.62 after closing the previous week of $72.07.

  • Jul 26, 2021: Back on Trend?

    The price of Brent crude ended last week at $74.19 after closing the previous week at $73.30 and rebounding from $68.62 on Monday. The price of WTI crude followed a similar pattern ending the week at $72.17 after falling to $66.42 on Monday.

  • Jul 19, 2021: Renewed Concerns

    The price of Brent crude ended last week at $73.30 after closing the previous week at $75.58. The price of WTI ended last week at $71.65 after closing the previous week at $74.63.

  • Jul 12, 2021: Not too high, not too low

    The price of Brent crude ended last week at 75.58 after closing the previous week at $75.97 with the price rebounding at the end of the week after falling to $73.43 on Wednesday. The price of WTI crude had a similar pattern ending the week at $74.63 after falling to $72.20 on Wednesday.

Sign-Up for Email Alerts Tell Me More about STO