What's Affecting Oil Prices This Week?

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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.

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  • What's Affecting Oil Prices the Week of November 11, 2019?

    Brent crude averaged $62.33/bbl last week, as prices rose $1.19/bbl on headline rumors about a US-China trade deal. WTI increased $1.54/bbl to average $56.90/bbl. For the week ahead we expect prices to be range bound.

  • What's Affecting Oil Prices the Week of November 4, 2019?

    Brent crude averaged $61.14/bbl last week, right in line with our forecast. Similarly, WTI behaved as expected, losing only $0.15/bbl to average $55.62/bbl. For the week ahead, we expect prices to rise and for Brent to average $62.50/bbl.

  • What's Affecting Oil Prices the Week of October 28, 2019?

    Crude oil saw strength late in the week after a drawdown in US crude stocks. Brent increased $1.34/bbl to average $60.70/bbl while WTI increased $1.77/bbl to average $55.27/bbl. For the week ahead we expect prices to maintain their momentum and for Brent to average $61/bbl.

  • What's Affecting Oil Prices the Week of October 21, 2019?

    Crude oil prices were generally flat last week, although Brent rose twice as much as WTI. Brent increased $0.46/bbl to average $59.37/bbl while WTI increased $0.25/bbl to average $53.49/bbl.

  • What's Affecting Oil Prices the Week of October 14, 2019?

    Crude oil prices were generally steady week-on-week due to a price spike at the end of last week. Brent increased $0.23/bbl to average $58.92/bbl while WTI increased $0.15/bbl to average $53.27/bbl. For the week ahead, we expect Brent to average $58/bbl as enthusiasm about a trade deal wanes.

  • What's Affecting Oil Prices the Week of October 07, 2019?

    Brent continued to drop last week, falling $4.29/bbl to average $58.70/bbl. WTI fell $3.82/bbl to average $53.12/bbl. Clearly negative momentum is carrying the day, and based on technical indicators there is still more room to fall. For the week ahead we expect Brent to average $58/bbl.

  • What's Affecting Oil Prices the Week of September 30, 2019?

    On a weekly average basis, Brent and WTI both increased last week, although Brent saw slightly more support. Brent increased $3.89/bbl to average $65.17/bbl last week. WTI increased $3.13/bbl last week to average $59.31/bbl. For the week ahead we expect Brent to average $64.50/bbl as a geopolitical price premium remains in place.

  • What's Affecting Oil Prices the Week of September 23, 2019?

    On a weekly average basis, Brent and WTI both increased last week, although Brent saw slightly more support. Brent increased $3.89/bbl to average $65.17/bbl last week. WTI increased $3.13/bbl last week to average $59.31/bbl. For the week ahead we expect Brent to average $64.50/bbl as a geopolitical price premium remains in place.

  • What's Affecting Oil Prices the Week of September 20, 2019?

    Brent crude ended the week at $64.29/bbl, $7.66/bbl lower than its high of $71.95 reached on Monday. For the week, Brent spot prices ended up averaging approximately $65.17/bbl, roughly a dollar above our Monday morning forecast. Intraday spreads tightened throughout the week as volatility due to concerns about supply and a potential military response abated.

  • What's Affecting Oil Prices the Week of September 16, 2019?

    Stratas Advisors expects Brent to average $64/bbl this week and for WTI to average closer to $58/bbl, but these prices are subject to a broad band of possibilities based on damage assessments and political developments.

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