Crude Oil Prices: Crude oil prices remained within the range established over the previous three months. The North Sea Brent front month futures price settled at $47.98 per barrel (b) on November 5, an increase of 29 cents/b since October 1 ( Figure 1 ). The West Texas Intermediate (WTI) front month futures price settled at $45.20/b on November 5, rising by 46 cents/b over the same time. Figure 1: Historical crude oil front month futures prices Although prices were relatively stable, large uncertainty remains in the crude oil market, as upside and downside risks to supply and demand still exist. U.S. oil-directed rig counts continue to decline, but the effect on the overall U.S. production in the past few months is unclear. […]