What is Macro Pulse?

Macro Pulse highlights recent activity and events expected to affect the U.S. economy over the next 24 months. While the review is of the entire U.S. economy its particular focus is on developments affecting the Forest Products industry. Everyone with a stake in any level of the sector can benefit from
Macro Pulse's timely yet in-depth coverage.


Saturday, December 3, 2011

November 2011 Monthly Average Crude Oil Price

Click image for larger view

The monthly average U.S.-dollar price of West Texas Intermediate (WTI) crude oil jumped higher in November, advancing by $10.80 (12.5 percent) to $97.21 per barrel. That rise occurred despite continued strengthening of the dollar, and the lagged impacts of a decrease in consumption of 358,000 barrels per day (BPD) -- to 18.8 million BPD -- during September, but coincided with a downward trend in crude stocks during November. Although Brent crude (the predominant grade used in Europe) appeared to be cheaper than WTI in October (November data was not yet available at the time of this writing), the dollar-euro exchange rate at the time meant it was in fact over $23 per barrel more expensive than WTI on a U.S.-dollar basis ($109.55 versus $86.41, respectively).
 
Click image for larger view

Click image for larger view
Posted by at
Labels: , , ,

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)