What's Affecting Oil Price
The industry will have an even lower than expected ceiling on the level of working gas storage at the start of the heating season.
Brent and WTI have backed off recent highs. Brent fell $2.42/bbl last week to average $82.54/bbl.
Brent continued its meteoric rise, increasing $3.19/bbl last week to average $84.96/bbl.
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 $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.