Crude Oil Prices: After increasing in February, global crude oil prices declined in March. The North Sea Brent front month futures price settled at $54.95/bbl on April 2, a decline of $4.59/bbl since the close on March 2 ( Figure 1 ). The West Texas Intermediate (WTI) front month futures price declined by $0.45/bbl over the same period to settle at $49.14/bbl on April 2. The average Brent price for March was 3.2% lower compared to the average in February, the smallest monthly average change since June 2014. Figure 1: Historical crude oil front month futures prices March was one of the more stable months for international crude oil prices compared to the past half-year. Supply-side developments put downward pressure on crude oil […]