What's Affecting Oil Prices This Week (October 1, 2018)?
Brent rose $2.97/bbl to average $81.77/bbl last week as markets responded very poorly to the news that OPEC had no firm plan for raising production.
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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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Brent rose $2.97/bbl to average $81.77/bbl last week as markets responded very poorly to the news that OPEC had no firm plan for raising production.
Brent rose only $0.31/bbl last week to average $78.80/bbl as WTI rose $1.34/bbl to average $70.29/bbl.
Brent rose $1.10/bbl last week to average $78.49/bbl as WTI rose only $0.42/bbl to average $68.95/bbl.
Brent rose $0.49/bbl last week to average $77.38/bbl, and WTI fell $0.86/bbl to average $68.53/bbl.
Brent rose $2.22/bbl last week to average $74.03/bbl as WTI rose $1.51/bbl to average $67.64/bbl.
Brent fell $1.29/bbl last week to average $71.82/bbl as WTI fell $1.79/bbl to average $66.12/bbl.
Brent fell $0.54/bbl last week to average $73.11/bbl while WTI fell $0.89/bbl to average $67.91/bbl.
Despite pronounced weakness at the end of the week, Brent and WTI traded generally sideways last week.
Brent rose $1.34/bbl last week to average $73.85/bbl, while WTI was basically flat and averaged $68.80/bbl.
For the week ahead, Stratas Advisors expect geopolitical concerns to help stop the crude price bleeding and allow Brent to trade generally sideways.
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