Today in Energy

June 17, 2011

EIA highlights key factors in new energy and financial markets web page

Energy and Financial Markets: What Drives Crude Oil Prices?

graph of Energy and financial markets:  what drives crude oil prices?, as described in the article text

Source: U.S. Energy Information Administration

Yesterday, EIA launched a new web-based assessment highlighting key factors that can affect crude oil prices called "Energy and Financial Markets: What Drives Crude Oil Prices?" This new product features a dashboard showing recent trends in several of these factors, including both physical fundamental factors and factors dealing with trading and financial markets.

  • Spot prices
  • OPEC production
  • Non-OPEC production
  • OECD consumption
  • Non-OECD consumption
  • Balance
  • Financial markets

Understanding oil price movements and their underlying drivers was the impetus in creating this new product. Oil prices have fluctuated a great deal in recent years, reaching over $140 per barrel in the summer of 2008, then falling by about $100 in subsequent months before rebounding. Gasoline prices paid at the pump experienced similar fluctuations during this period.