What is Affecting Oil Prices This Week?

Oil well

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  • Volatility Remains a Feature

    The price of Brent crude ended the week at $98.15 after closing the previous week at $94.92. The price of WTI ended the week at $92.09 after closing the previous week $89.01. The price movement aligned with our expectation that oil prices would rebound.

  • Price Drop Below Trend – Now Where?

    The price of Brent crude ended the week at $94.92 after closing the previous week at $103.97. The price of WTI ended the week at $89.01 after closing the previous week $98.62.

  • Less Pressure for Action

    The price of Brent crude ended the week at $103.97 after closing the previous week at $103.20. The price of WTI ended the week at $98.62 after closing the previous week $94.70.

  • A Critical Week

    The price of Brent crude ended the week at $103.20 after closing the previous week at $101.16. The price of WTI ended the week at $94.70 after closing the previous week $97.59.

  • Back in the Channel

    The price of Brent crude ended the week at $101.16 after closing the previous week at $107.02. The price of WTI ended the week at $97.59 after closing the previous week $104.79. As such, while oil prices are revisiting the lower support levels, the price of Brent crude is staying within the channel between $100 and $120.

  • The Support Held for Now

    The price of Brent crude ended the week at $107.02 after closing the previous week at $111.63, and the price of WTI ended the week at $104.79 after closing the previous week $108.43.

  • The Question Remains the Same

    The price of Brent crude ended the week at $109.10 after closing the previous week at $113.12. The price of WTI ended the week at $107.62 after closing the previous week $109.16.

  • Will the Trend Hold?

    The price of Brent crude ended the week at $113.12 after closing the previous week at $122.01. The price of WTI ended the week at $109.16 after closing the previous week $120.67.

  • Demand Remains the Critical Factor

    The price of Brent crude ended the week at 122.01 after closing the previous week at $119.72. The price of WTI ended the week at $120.67 after closing the previous week $118.87. In recent weeks, we have suggested that oil prices would not move significantly higher than $120.00 over the next few months, in part, because our expectation that the supply situation would stabilize, and that global demand growth would remain moderate.

  • More Developments – but how much impact?

    The price of Brent crude ended the week at $119.72 after closing the previous week at $119.43. The price of WTI ended the week at $118.87 after closing the previous week $115.07.

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