Jan
15Oil Prices – Weekly Outlook January 16-20
Tagged Under : Oil Prices, Prices
Oil prices didn’t do much during last week after they had sharply inclined in the first week of the year. From the supply side, there are still growing concerns of the rising tension between Iran and the West but it has yet to reflect in the oil prices. From the demand side, the slowdown in the EU may have been among the factors in curbing the rally of oil prices. What is up ahead for oil markets in the third week of January? Let’s analyze the oil market and the main news items and events that may affect oil.
For the complete outlook of the oil market for the week of January 16-20 see here in Trading NRG
On Friday, January 13th oil price (WTI) slightly declined by 0.40% to $98.70/b; Brent also slipped by 0.15% to $110.87/b; during last week, WTI decreased by 2.82% and Brent by 1.94%.
The chart below shows the development of WTI and Brent during January (prices are normalized to December 30th). It s
