Oil continued its rally and increased during the week.  The premium of Brent is still around the $18 mark, as the tensions between Iran and Europe remains high. The recent news from this front is that Iran will stop selling oil to British and French companies. Will oil continue its rally during the upcoming week? Let's examine the oil market the main financial reports, which will come out next week that may affect the direction of oil prices.    

For the rest of the oil market weekly outlook

On Friday, February 17^th oil price (WTI) rose by 0.91% and reached $103.24/b; Brent on the other hand moderately decreased by 0.21% to $121.35/b; during last week, WTI rose by 0.85% and Brent by 2.79%.

In the chart below are the developments of WTI and Brent during February (prices are normalized to January 31^st). The chart shows the ongoing rally of Brent and WTI.