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1. • • Inventories around the world have fallen to below the pre-pandemic five-year average as stocks are depleting, with demand bouncing back amid a weaker supply response from producers.
     www.nasdaq.com/articles/the-2021-oil-price-rally-is-far-from-over-2021-10-21

     The 2021 Oil Price Rally Is Far From Over - Nasdaq

2. People also ask

   Why did oil prices surge beyond $85 per barrel?

   • “Much of the price surge beyond $85 per barrel is due to a flood of speculative money, while fundamentally there is still plenty of oil in the world to meet demand for now,” said Gary Peach, oil markets analyst at Energy Intelligence.

   Oil prices have risen. That's making gas more expensive for US drivers

   apnews.com/article/why-have-oil-prices-gone-up-a9f4ddbd815dd6c6fd90698443e7b8b3

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   Will oil prices rise next year?

   • “The oil price is only likely to climb more lastingly once the economic outlook begins to brighten, which should be the case next year.” Another factor is financial speculation, and it appears investors are piling into the oil market with bets that prices will rise.

   Oil prices have risen. That's making gas more expensive for US drivers

   apnews.com/article/why-have-oil-prices-gone-up-a9f4ddbd815dd6c6fd90698443e7b8b3

   See all results for this question

   Will oil demand increase in 2021?

   • “Energy and oil demand have picked up significantly in 2021, after the massive drop in 2020, and continued expansion is forecast for the longer term,” Mohammed Barkindo, Opec secretary-general, wrote in the foreword to group’s annual oil outlook report.

   Oil prices rise above $80 a barrel for first time in three years

   www.ft.com/content/14d4980b-8163-4359-bc4a-fb2b7f7d2c27

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   When do oil prices become a problem?

   • Oil prices historically become problematic when energy costs exceed 8.8% of global GDP, levels last seen in 2008, say BofA analysts. As of Oct 8. when their note was sent, energy's share was 5.6%, they wrote. So overall energy costs would need to rise another 60% to hit the threshold.

   Why today's economy can handle oil at $100 a barrel or higher

   www.reuters.com/business/energy/why-todays-economy-can-handle-oil-100-barrel-or-higher-2021-10-21/

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3. apnews.com › article › why-have-oil-prices-gone-up-aOil prices have risen. That's making gas more expensive for ...

   apnews.com › article › why-have-oil-prices-gone-up-a

   • Cached

   Sep 25, 2023 · “Much of the price surge beyond $85 per barrel is due to a flood of speculative money, while fundamentally there is still plenty of oil in the world to meet demand for now,” said Gary Peach, oil markets analyst at Energy Intelligence.

   • Occupation: AP Business Writer

4. www.ft.com › content › 14d4980b-8163-4359-bc4a-fb2b7Oil prices rise above $80 a barrel for first time in three years

   www.ft.com › content › 14d4980b-8163-4359-bc4a-fb2b7

   Sep 28, 2021 · Coal, carbon and European gas prices have all hit record highs as crude oil pushed above $80 a barrel in the clearest signs yet that the world is heading into an energy crunch likely to weigh...

   • Author: Neil Hume

5. Videos

   • 

     8:25

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     What Causes Oil Prices to Fluctuate? | Oil Price 2021

     Apr 11, 2021

     10.8K Views

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     3:17

     finance.yahoo.com

     Oil prices rise after OPEC forecasts global oil demand will rise

     Jun 26, 2023

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     investopedia.com

     What Determines Oil Prices?

     Dec 31, 2008

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6. www.macrotrends.net › 1369Crude Oil Prices - 70 Year Historical Chart - Macrotrends

   www.macrotrends.net › 1369

   • Cached

   The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value. The current price of WTI crude oil as of September 27, 2024 is $68.18 per barrel.

   Year	Averageclosing Price	Year Open	Year High
   2024	$77.77	$71.65	$87.01
   2023	$77.64	$80.26	$93.84
   2022	$94.53	$76.08	$123.70
   2021	$68.17	$47.62	$84.65

   See full list on macrotrends.net

7. www.reuters.com › business › energyWhy today's economy can handle oil at $100 a barrel or higher

   www.reuters.com › business › energy

   Oct 21, 2021 · LONDON, Oct 21 (Reuters) - For all the angst caused by this year's 65% oil price leap, concerns about a return to 1970s-style stagflation are overblown and the developed world, at least, can...

8. www.nasdaq.com › articles › the-2021-oil-price-rallyThe 2021 Oil Price Rally Is Far From Over - Nasdaq

   www.nasdaq.com › articles › the-2021-oil-price-rally

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   Oct 21, 2021 · The energy crisis in Europe and Asia could additionally boost global oil demand by 500,000 barrels per day (bpd) compared to a “normal” market without a natural gas and coal crunch, the...

9. www.iea.org › reports › oil-market-report-march-2021Oil Market Report - March 2021 – Analysis - IEA

   www.iea.org › reports › oil-market-report-march-2021

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   Mar 17, 2021 · Prices rose with cold weather in the northern hemisphere and were supported by growing confidence in vaccine rollouts and the economy. Forward price curves rose above $50/bbl on NYMEX WTI, boosting producer hedging. At the time of writing, Brent was trading at $68/bbl and WTI near $65/bbl. Highlights.

10. www.nytimes.com › oil-prices-opec-shaleWhy $4-a-Gallon Gas May Be Coming Your Way This Summer

    www.nytimes.com › oil-prices-opec-shale

    Mar 11, 2021 · In recent weeks oil prices have surged to over $65 a barrel, a level that would have seemed impossible only a year ago, when some traders were forced to pay buyers to take oil off their...