EIA: Brent crude oil price stability continues

09/01/2014
Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl. Compared with the volatility seen as recently as 2 years ago when Brent spot prices ranged as high as $125/bbl in March 2012 to as low as $95/bbl in June 2012, this price stability has been remarkable, according to the US Energy information Administration. Implied volatility-a measure of expected price variation-for the near-month Brent futures contract has averaged 18% over the past 12 months compared with 28% during the previous 24 months. "Although supply growth from non-OPEC countries has outpaced world consumption in the past year, its ...
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