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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.


Tuesday, August 4, 2015

July 2015 Monthly Average Crude Oil Price

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The monthly average U.S.-dollar price of West Texas Intermediate (WTI) crude oil retreated in July (-$8.30), to $51.52 per barrel. The price decrease coincided with a stronger U.S. dollar, the lagged impacts of an 80,000 barrel-per-day (BPD) increase in the amount of oil supplied/demanded in May (to 19.1 million BPD), and generally stable oil stocks. The monthly average price spread between Brent crude (the predominant grade used in Europe) and WTI widened by $3.89 in July, to $5.55 per barrel. 
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Given the downward momentum in futures price, additional fallout in spot oil prices cannot be discounted. 
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The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.
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