Crude Oil Prices: International crude oil prices continued on a downward trajectory in September, falling under $100 per barrel (bbl) for the first time since June 2012. The North Sea Brent front month futures price settled at $93.42/bbl on October 2, a decrease of $6.92/bbl from September 2 ( Figure 1 ). U.S. domestic crude oil benchmarks also declined, with the front month West Texas Intermediate (WTI) contract price decreasing by $1.87/bbl over the same period, settling at $91.01/bbl on October 2. Figure 1: Historical crude oil front month futures prices Robust supply at a time of potentially weakening demand continues to put downward pressure on crude oil prices. Libyan production averaged 800,000 bbl/d in September and at times reached higher levels, while other OPEC […]