What's Affecting Oil Prices This Week (August 26, 2019)?
Confusion and concern about the trade dispute with China dragged down prices at the end of the week and will continue to impact markets this week.
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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.
For Media Inquiries please contact: kclark@hartenergy.com
Confusion and concern about the trade dispute with China dragged down prices at the end of the week and will continue to impact markets this week.
For the week ahead, Stratas Advisors expect Brent to remain weak, averaging $60/bbl.
Brent and WTI both fell sharply last week. Brent fell $5.02/bbl to average $58.18/bbl, breaking the psychological $60/bbl barrier.
During the week ahead, Stratas Advisors expect Brent to continue falling as demand fears grow, likely averaging $60/bbl.
For the week ahead Stratas Advisors see no immediate bullish factors and thus expect Brent to continue its generally range-bound pattern, averaging $63.50/bbl.
Stratas Advisors’ take on OPEC’s effort to return OECD stock levels to the 2015 five-year average.
For the week ahead we expect Brent prices to tread water as fears about demand are partially countered by geopolitical tensions.
For the week ahead we expect moderate gains to continue. Brent will likely average close to $67/bbl.
Brent and WTI both fell last week, despite a successful outcome to the OPEC and OPEC+ meetings.
Crude oil increased again last week, rising $2.99/bbl to average $65.90. WTI increased even more, up $3.87/bbl to average $58.60/bbl.
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