22 Hrs
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عين ليبيا
Brent nears $90 amid oil price shifts
Libyan Weekly Oil Price Bulletin indicates ongoing fluctuations in global oil markets from August 10 to August 14, influenced by geopolitical developments, and fluctuations in global supply and demand levels. The average price of Brent crude reached $86.70 per barrel, with a range between $83.33 and $90.07. West Texas Intermediate (WTI) averaged $82.33, spanning from $77.79 to $84.61. The OPEC basket's average price stood at $83.61, with a low of $80.62 and a high of $86.60. Prices continue to move within a volatile range due to geopolitical factors, OPEC+ alliance decisions, demand forecasts, and stock levels. There were positive developments toward the end of the week, with Brent contracts closing at around $88.52 and WTI at $82.40, reflecting the market’s ongoing sensitivity to supply issues and political risks.
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