What’s Affecting Oil Prices This Week? (Nov. 22, 2021)

Increased supply from OPEC+ and non-OPEC producers, strengthening of US dollar and uptick in COVID cases will lead to further downward pressure on oil prices, Stratas Advisors said in its latest forecast.

John E. Paisie, Stratas Advisor
Stratas Advisors

As expected, crude oil prices declined last week for the fourth straight week, says Stratas Advisors . The price of Brent crude ended the week at $78.66 after closing the previous week at $81.95.

As we expected, crude oil prices declined last week for the fourth straight week. The price of Brent crude ended the week at $78.66 after closing the previous week at $81.95. The price of WTI ended the week at $76.11 after closing the previous week at $80.69. Also, as we have been forecasting, the Brent-WTI differential widened to $2.55 from the previous week of $1.26.

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