January 28, 2020

Oil Price Watch December 3rd 2011

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The Brent oil price showed about a 3% gain over the week, Chris Kahn, AP Energy Writer, noted that prices had risen every trading day since Thanksgiving due to a combination of supply side pessimism over Iran’s nuclear program and demand side optimism over strong retail sales in the U.S. and efforts by the Federal Reserve and other central banks to increase the flow of dollars to foreign banks.

And I promised to say something of relevance to the long term price of oil this week. Here it is in a parallel  blog: Economics, the cheerful science….  See what you think ….

Price at end of week: $109.94 (up from $106.73 end of last week)

Read the Oil Price Watch Overview here