Demostenes Floros | aboutenergy.com
At the center of the recent slowdown in crude oil prices, Washington’s moves on the international geopolitical chessboard, the confrontation with OPEC and the movements of constant rapprochement between Russia and China
In October, oil prices strongly decreased at around $10.5/b. In particular, Brent North Sea quality started the negotiations pricing at $84.95/b and closed at $74.59/b, while West Texas Intermediate grade opened the transactions trading at $75.45/b then, closing at $64.98/b. At the time of writing (November 13th), Brent was pricing at $65.95/b, the lowest level since March 2018 and WTI at $56.26/b, the minimum since November 2017.