Video: Oil Prices Head Higher
Though oil prices were knocked lower in the middle of July, this past week saw them climb up again.
Watch this less-than-2-minute video to see what OPIS is tracking as WTI crude oil returns to near the $70/bbl mark and Brent pushes $75/bbl.
Here’s a preview: Cushing, Okla., stocks of crude oil — that’s the hub around which the WTI contract is based — have dwindled to levels not seen since November 2014.
See what else we are tracking, including a “candlestick” chart illustrating market opens and settles. Plus see, what gasoline and diesel did in this week’s rally.
Find out more about oil and gasoline prices in the OPIS Outlook Forecast Mid-Year Review. In addition to a full discussion of geopolitical forces on the oil market and an in-depth look at U.S. supply and demand, we’ll cover:
- How the announcements made at the June 22 OPEC meeting will shape the fortunes of oil prices for the remainder of 2018
- The effect of RINs market volatility on RBOB gasoline futures prices
- The major headlines that are shaping gasoline and diesel prices this year.
Click to get the OPIS Outlook Forecast Mid-Year Review.