WTI crude prices opened the week on Monday at $53.15/b, which was $0.28 below the previous Monday’s opening (January 23rd.) Tuesday’s and Wednesday’s prices were mainly in the $52.50-$53.50/b bandwidth. Thursday brought a rally that brought prices above $54/b at the high end, but the day closed back at $53.54/b. Friday’s opening was up by […]
Source: EIA. Principal contributors: Natalie Kempkey, Matthew Manning In fiscal year (FY) 2016, the U.S. government collected almost $6 billion in revenues from royalties, rental costs, and other fees from activities related to energy production on federal and American Indian lands, according to the Department of Interior’s Office of Natural Resource Revenue. These activities include […]
Source: EIA Short-Term Energy Outlook The U.S. Energy Information Administration’s (EIA) January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. Average forecast prices rise to $56/b and […]
Source: Energy Information Administration. Principal contributor: Matthew French Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the […]
Analysis by Dr. Nancy Yamaguchi WTI prices collapsed after spiking as high as $55.24/b yesterday. WTI opened at $52.49/b today, a drop of $1.71, or 3.15%, from yesterday’s opening price. Prices are currently $52.65/b, $0.16 above the market opening value. WTI prices had not closed above $55/b since the first week of July in 2015, […]
Analysis by Dr. Nancy Yamaguchi WTI prices have just cracked through another price barrier: the $55/b mark. Prices strengthened over the New Year’s holiday, and they surged again this morning in early trading. WTI opened at $54.20/b today, an increase of $0.33, or 0.6%, from Friday’s opening price. WTI prices have not opened above $54/b […]
