What is Affecting Oil Prices This Week?

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  • Jan 18, 2022: Triple Digits?

    The price of Brent crude ended the week at $86.47 after closing the previous week at $81.93. The price of WTI ended the week at $84.27 after closing the previous week at $78.94. Oil prices were supported by oil traders increasing their net long positions.

  • Jan 10, 2022: A Range of Factors

    The price of Brent crude ended the week at 81.93 after closing the previous week at $77.94. The price of WTI ended the week at $78.94 after closing the previous week at $75.45. Prices of Brent crude and WTI crude both started drifting downward on Friday.

  • Jan 3, 2022: Beginning of a New Year

    After the rebound in prices during the week, of December 27, crude prices continued to increase last week.

  • Dec 27, 2021: Fundamentals are still favorable

    Last week, the price of Brent crude ended the week at $75.59 after closing the previous week at $73.52. The price of WTI ended the week at $73.79 after closing the previous week at $70.36.

  • Dec 20, 2021: Not So Merry

    Last week, the price of Brent crude ended the week at $73.52 after closing the previous week at $75.27. The price of WTI ended the week at $70.36 after closing the previous week at $71.96.

  • Dec 13, 2021: Are the clouds clearing?

    Last week, the price of Brent crude ended the week at $75.27 after closing the previous week at $70.14. The price of WTI ended the week at $71.96 after closing the previous week at $66.22.

  • Dec 6, 2021: Wait and See

    Last week, the price of Brent crude ended the week at $70.14 after closing the previous week at $71.60. The price of WTI ended the week at $66.22 after closing the previous week at $68.17. Also, as we have been forecasting, the Brent-WTI differential widened to $3.92 from the previous week of $3.46.

  • Nov 29, 2021: The Ongoing COVID-19 Saga

    As we have been highlighting over the last several weeks, there are a number of factors putting downward pressure on oil prices, including increasing supply, strengthening US dollar, declining sentiment of oil traders and the ongoing COVID-19 saga.

  • Nov 22, 2021: More Downward Pressure

    As we expected, crude oil prices declined last week for the fourth straight week.

  • Nov 15, 2021: A period of doldrums

    Last week, crude oil prices declined for the third straight week. The price of Brent crude ended the week at $81.95 after closing the previous week at $82.55. The price of WTI ended the week at $80.69 after closing the previous week at $81.17.

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