Slight rise in WTI oil prices last week benefits domestic
producers  2013.03.18 - WTI STEnlarge Graph    • WTI crude
prices rose slightly for the week ended March 22, from
$93.45/barrel to $93.71/barrel, resulting in a small positive
for domestic producers of oil.   • This is the third week in a
row that prices have increased. Prior to that, prices had fallen
since February 1 when WTI was trading at nearly $98/barrel until
rebounding somewhat over the past two weeks. Most producers
still view the current price environment of ~$94/barrel as
relatively robust.  West Texas Intermediate (WTI) crude is the
benchmark crude for U.S. oil. Therefore, movements in WTI oil
prices are a major driver in the valuation of domestic oil
producers. Higher oil prices also incentivize producers to spend
more money on drilling, which results in increased revenues for
oilfield service companies (that is, companies which provide
services such as drilling, fracking, and well servicing).
Consequently, WTI prices are an important indi