What's Affecting Oil Prices This Week (Feb. 26, 2018)?
In the week since our last edition of What’s Affecting Oil Prices, Brent prices rose as expected to average $66.01/bbl.
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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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In the week since our last edition of What’s Affecting Oil Prices, Brent prices rose as expected to average $66.01/bbl.
In the week since our last edition of What’s Affecting Oil Prices, Brent prices averaged around $63.68/bbl last week, within the expected range.
For the week ahead Stratas Advisors expect crude prices to continue to fall slightly, barring a surprisingly bullish report from the IEA.
For the upcoming week, Stratas Advisors expect Brent prices to continue to pull back and average $68/bbl.
For the upcoming week Stratas Advisors expect Brent prices to average $67.50/bbl as trading activity picks up and little evidence is present to justify continued gains.
After a volatile 2017, oil markets turn towards 2018 and the topics that will dominate the next 12 months.
2017 was another volatile year for oil markets, with prices finally appearing on track to a sustainable recovery after several false starts.
For the upcoming week Stratas Advisors expect Brent to average $62/bbl, assuming the upcoming IEA report will be supportive of the recent OPEC supply deal.
For the upcoming week, Stratas Advisors expect prices to be range-bound at about $63.50/bbl with few factors for forward momentum present.
For the upcoming week, Stratas Advisors expect prices to trade range-bound until the OPEC meeting when prices will likely take a leg down as markets are inevitably disappointed by the outcome.
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