WTI crude oil prices dropped 2.9% on Friday to close at $52.04 a barrel, as the prospects of further lockdowns in Germany and France amid rising COVID-19 deaths coupled with fiscal uncertainty in the US weighed on global sentiment. Also, China reported the highest number of daily coronavirus cases in more than 10 months on Friday and capped a week that resulted in more than 28 million people under lockdown. During the week, WTI crude oil prices fell 1%.
Historically, Crude oil reached an all time high of 147.27 in July of 2008. Crude oil - data, forecasts, historical chart - was last updated on January of 2021.
Crude oil is expected to trade at 50.49 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 43.42 in 12 months time.