Macro
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month values ▾
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|
| +0.60 | +0.60 | +0.60 | +0.65 | +0.65 | +0.70 | -0.34 | -0.41 | +0.55 | +0.45 | +0.45 | +0.45 |
Record $78 crude in July delivered another year of fat profits, but prices cooled toward $60 in the autumn, taking the mood off the boil while still leaving owners solidly in the money.
How this mood is scored ▾
US and Brent crude prices surged to near $78 amid escalating Israel-Hezbollah tensions, supply concerns in Nigeria, and Iran's nuclear standoff. Despite OPEC's reassurance of ample supply, geopolitical fears and speculation are driving market volatility. Higher oil prices raise concerns for global economic growth, though the US economy has shown resilience so far.
BP has shut down operations at Alaska's Prudhoe Bay, North America's largest oil field, following corrosion-related leaks in transit pipelines, leading to a significant drop in output and a spike in oil prices. The company is replacing key pipelines and increasing inspections, with partial production possible in the west. The shutdown impacts state revenues and raises concerns over long-term pipeline integrity and maintenance practices.