Tuesday, June 20, 2017

Oil Prices Lower, Down Year-over-year

by Calculated Risk on 6/20/2017 09:57:00 AM

From CNBC: Oil prices are tumbling more than 2% to $43 a barrel right now

U.S. West Texas Intermediate crude oil futures were last down $1.19, or 2.7 percent, at $43.01.
Oil PricesClick on graph for larger image

The first graph shows WTI and Brent spot oil prices from the EIA. (Prices today added).

According to Bloomberg, WTI is at $42.87 per barrel today, and Brent is at $45.69.

Prices really collapsed at the end of 2014 - and then rebounded a little - and then collapsed again at the end of 2015 and in early 2016.

Prices then rebounded to over $50 per barrel, but have been falling recently.

Oil Prices The second graph shows the year-over-year change in WTI based on data from the EIA.

Six times since 1987, oil prices have increased 100% or more YoY.  And several times prices have almost fallen in half YoY.

Currently WTI is down about 12% year-over-year.