# EIA expects WTI to average nearly $85/bl in 2Q | Latest Market News

> The EIA forecasts WTI will average about $84.56 a barrel in April through June, a $30.91 upward revision from its February outlook. It expects Brent to average $90.56 in the second quarter, driven by Middle East fighting that has disrupted flows through the Strait of Hormuz.

- Date: 2024-03-25 · published 2024-03-25T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/31371-eia-expects-wti-to-average-nearly-85-bl-in-2q-latest-market-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A higher EIA price forecast signals sustained crude strength, which raises fuel, freight and fertilizer costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-10-17 | [EIA Short-Term Energy Outlook - Fuels Market News](https://feedsoft.ai/events/68641-eia-short-term-energy-outlook-fuels-market-news.md) | +0.1% | +9.5% |
| WTI | 2017-07-01 | [Global oil markets expected to tighten in third quarter 2017, then loosen through 2018](https://feedsoft.ai/events/70655-global-oil-markets-expected-to-tighten-in-third-quarter-2017-then-loosen.md) | -3.5% | +9.1% |
| WTI | 2018-03-09 | [Iran war shock to flip market to deficit in 2026: analysts](https://feedsoft.ai/events/66177-iran-war-shock-to-flip-market-to-deficit-in-2026-analysts.md) | +1.7% | +3.2% |
| WTI | 2019-05-21 | [EIA Gasoline and Diesel Retail Prices Update, May 21, 2019 - Fuels Market News](https://feedsoft.ai/events/7393-eia-gasoline-and-diesel-retail-prices-update-may-21-2019-fuels-market-news.md) | -7.3% | -17.7% |
| WTI | 2019-02-20 | [EIA: IMO 2020 Will Affect Petroleum Markets \| O&E Online](https://feedsoft.ai/events/60792-eia-imo-2020-will-affect-petroleum-markets-o-and-e-online.md) | -1.2% | +5.3% |
| BRENT | 2024-03-25 | [EIA sharply raises 2026-2027 diesel price forecast \| Latest Market News](https://feedsoft.ai/events/31383-eia-sharply-raises-2026-2027-diesel-price-forecast-latest-market-news.md) | +1.9% | +2.3% |
| BRENT | 2017-10-17 | [EIA Short-Term Energy Outlook - Fuels Market News](https://feedsoft.ai/events/68641-eia-short-term-energy-outlook-fuels-market-news.md) | -0.2% | +9.4% |
| BRENT | 2017-07-01 | [Global oil markets expected to tighten in third quarter 2017, then loosen through 2018](https://feedsoft.ai/events/70655-global-oil-markets-expected-to-tighten-in-third-quarter-2017-then-loosen.md) | -1.9% | +10.0% |

## Sources

- argusmedia.com: https://www.argusmedia.com/en/news-and-insights/latest-market-news/2799067-eia-expects-wti-to-average-nearly-85-bl-in-2q

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.