Crude oil price weekly recap for the week ending November 7

Here is a weekly recap of the main changes that occurred in crude oil price along with a short analysis  for the week ending at November 7th:

  • The second stage of the Quantitative Easing in the US was announced by the Federal Reserve  on November 3rd with a 600 billion US dollar budget for it. I have referred to it to the implications it may have on the crude oil price;
  • The US Energy Information Administration weekly report showed, as I have pointed out in a post form yesterday, showing that the US oil stock are at their highest level on the one hand while the Gasoline stocks are at their lowest level.


I have added herein a table that summarizes the main changes that occur in the passing week between November 1st and 5th:

crude oil price chart 1-5 nov

* This figure is calculated based on the percent change from the price at the beginning of the week compare to the price at the end of the week

As seen above, the range of the crude oil price (WTI spot) was between 86.85 $/b and 82.94 $/b – a range of 3.91 $/b.  This fluctuation represents higher volatility  in crude oil price in this week than last week, mainly due to the speculations around the effect the quantitative easing  could have on devaluing the US dollar. Furthermore, on average, the crude oil price (WTI spot) changed by 1.51% and its price increased by 4.58% from the beginning to the ending of the week.

Also, I have added two graphs that describe the main changes in WTI spot price, Europe Brent spot price and NYMEX future prices and compare their changes among them, there graphs include: a graph of the price change and a graph of percent change of these prices.

crude oil price chart 1-5 nov

In the final graph it shows the crude oil prices daily percent change range between a one percent increase in the beginning of the week, which later that week climbed to an over 2.5% increase and finally settled at the end of the week at a 0.5%.

daily crude oil prices chart  1-5 nov percent change

daily crude oil prices chart 1-5 nov percent change