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Weekly Commodity Snapshot: Prices Seesaw as Biden Takes Office, Enacts Changes
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Commodity Price Summary - January 14, 2021
After steadily climbing in recent weeks, oil prices experienced a rocky trajectory during the last week.
WTI fell to $52.01 per barrel while Brent decreased to $55.21 per barrel.
The wobble in prices was primarily due to the change in power in the US as democrat Joe Biden took office and began to enact changes aimed at the oil and gas industry.
Changes Biden made since taking office include revoking the permit for the Keystone XL pipeline as well as halting all new leasing activity on federal lands for 60 days.
Shale Experts has been tracking the companies that will be most affected by the restricted leasing activity, which is available here.
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