What's Affecting Oil Prices This Week (July 10, 2017)?

In the two weeks since Stratas Advisors' last edition of What’s Affecting Oil Prices (June 23 to July 7), Brent crude rose $1.17 per barrel (bbl). However, between June 30 and July 7, prices fell $1.21/bbl after peaking at $48.12/bbl in the week of June 30.

For the week ahead, Stratas Advisors expect prices to continue falling, averaging around $45.50/bbl.

What's Affecting Oil Prices This Week (July 10, 2017)? Chart

For the upcoming week, Stratas Advisors expects crude inventories will see only slight movement compared to last week, likely flat to drawing 1 million as crude runs offset supply increases. The firm also expects the Brent-West Texas Intermediate differential will widen, trading between $2.50 and $2.70 with respect to the September contract.

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