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.
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.