Market Insights

September 23, 2015 • Posted in Market Insights

Week of September 21, 2015

Energy / Economy Overview

  • Crude prices strengthened midweek as inventories dipped, but fell once again on Thursday on bearish demand indicators and a stronger US dollar
  • Brent moved between $49 and $50/bbl and WTI was near $47/bbl, up overall from last week
  • The US Federal Reserve declined to raise interest rates which will likely support an even stronger US dollar in future
  • The stronger dollar and weaker exports out of Asia will combine to put downward pressure on global crude prices
  • Low prices are hurting high-cost producers in Canada and the North Sea but they are not expected to cut enough output in the next few months to have a meaningful impact on price
  • OPEC-member countries are holding market share but also feel the pain from lower income
  • The next OPEC meeting is in December

WTI Crude Oil & Brent Crude Oil 09212015

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