Oil prices were lower today and closed mixed week over week. Brent was up $.03 week over week and WTI was down 2% week over week. Indications are that will strong Russian oil supply could offset some of the bullish fundamentals such as the recovery in Chinese demand. Oil loadings from Russia\u2019s Baltic ports are set to rise 50% this month from December on strong demand in Asia and rising global prices. “If Russian supply remains strong heading into next month, oil is probably going to continue to trend lower,” said John Kilduff, partner at Again Capital LLC in New York. The Fed will also be meeting again early next week and it is expected the new statement may shed some light on policy decisions going forward. WTI traded down $1.33 or 1.6% to close at $79.68. Brent traded down $.81 or -.9% to close at $86.66.<\/p>\n\n\n\n
Indications are that will strong Russian oil supply could offset some of the bullish fundamentals such as the recovery in Chinese demand.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n