Related Articles
Forward article link
Share PDF with colleagues

Oil prices 50% below last year's levels

High stocks have pressured the oil price but April saw them begin to rise again

Oil futures prices eased in March, pressured by sharply higher supplies from Middle East Opec producers and a relentless build in US crude stocks as refiners in Europe and Asia prepared for maintenance. But prices started to rise during the first half of April on expectations that the sell-off in oil that began last summer was losing steam. WTI was trading at around $56.61 a barrel (/b) as Petroleum Economist went to press, while Brent was trading at roughly $62.08/b, around 50% below last June’s peak. But oil prices are expected to slip in the second quarter as refineries undergo seasonal maintenance work, particularly in Asia, one of the crude market’s biggest props, analysts believe. S

Also in this section
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range
Opec and IEA bristle at Trump's trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring