What's Affecting Oil Prices This Week (June 26, 2017)?

Monday, June 26, 2017 - 2:45pm

Prices continued falling last week, with Brent ending the week at $45.59 per barrel (bbl) on June 23, down $1.62/bbl with an apparent floor around $44/bbl. Despite the fact prices appear to be approaching oversold territory, Stratas Advisors said it expects to see significant support next week with Brent averaging $45/bbl, range-bound and pressured by sentiment.

What's Affecting Oil Prices The Week Of June 26, 2017

For the upcoming week, Stratas Advisors said it expects crude inventories will decrease between 1 million bbl and 1.5 million bbl as U.S. crude runs remain stable. The firm also expects the Brent-West Texas Intermediate differential remain relatively stable, trading between $2.40 and $2.90 with respect to the August contract.

Want To Learn More From Stratas Advisors?

Sign up for Stratas Advisors emails alerts to keep up to date with each segment of the energy sector value chain, analyzing impacts with respect to related industries.

Sign up here