21 May 2015
Oil price deadlock with only $4 price band
The narrow range has been in play since April while contradictory views have been pulling and pushing at prices
Oil prices continue to trade within the narrow range that has been in place since late April as contradictory views of an oversupplied versus a tightening market have been pulling and pushing at prices on an almost daily basis. The rises and falls have largely been in a $4 price band, with Brent trading between $64-68 per barrel (b) since 23 April. Brent was pegged at around $65/b as Petroleum Economist went to press, while WTI was hovering at about $59/b. Slowing US light, tight oil supplies pushed WTI 14% higher in April versus March, roughly twice the increase in Brent. In the supposed stand-off between Opec and US light tight oil, US producers appear to have blinked. The relentless rise
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
