What's Affecting Oil Prices This Week (Oct. 30, 2017)?
For the upcoming week Stratas expect prices to average $59/bbl as fundamental support remains. It also expects the Brent-WTI differential to average $6.50/bbl. Here's why.
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Ashley Petersen is the Lead Oil Market Analyst at Stratas Advisors, a global consulting and analytics provider for all facets of the oil and gas markets and related industries. Ashley has over 5 years’ experience analyzing crude oil markets with an emphasis on Atlantic Basin fundamentals. She is currently the lead oil analyst for Stratas’ Short-Term Price Outlook Service for crude oil, which combines market fundamentals, geopolitics and Stratas’ own economic forecast tools to build an integrated, data-driven outlook on key energy markers over the next eight quarters.
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For the upcoming week Stratas expect prices to average $59/bbl as fundamental support remains. It also expects the Brent-WTI differential to average $6.50/bbl. Here's why.
For the upcoming week, Stratas Advisors expect Brent oil prices to hold most of its gains from last week, averaging $57.50/bbl.
For the upcoming week, Stratas Advisors expect prices to average around $58/bbl with U.S. crude stocks falling 2.8 MMbbl.
For the upcoming week, Stratas Advisors expects prices to average $56/bbl and crude stocks to fall 1.5 MMbbl.
For the week ahead, Stratas Advisors expects Brent to average $55/bbl as geopolitical tensions lend support and there is a surfeit of fundamental data that could weigh on prices.
For the week ahead, Stratas Advisors expects Brent to average $53/bbl as the return of normal U.S. activity removes some recent support.
For the upcoming week Stratas Advisors expects that crude stocks will build as significant refining capacity was offline in the U.S. Gulf Coast region for much of the week due to Hurricane Harvey and crude exports were blocked.
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