Global inventory builds put downward pressure on crude oil prices (11/7/2018)
In the November 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) decreased its Brent spot price forecast from last month to $73 per barrel (b) in 2018, down $1/b, and $72/b in 2019, down $3/b. EIA expects that West Texas Intermediate (WTI) crude oil prices will average about $7/b lower than Brent prices next year. Brent crude oil spot prices averaged $81/b in October, up $2/b from September. Despite the increase in monthly average prices, Brent spot prices declined from $85/b on October 1 to $75/b on October 31 (Figure 1). ...
Read more at eia.gov
Friday, November 30, 2018
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