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A Reuters poll of 35 economists and analysts forecasts Brent averaging $72.58 and WTI $66.79 in 2018, both slightly higher than last month's forecasts. Respondents cited supply disruptions in Libya, Venezuela and Canada's Syncrude, and said OPEC extra output will not fully meet rising demand.
Forecasts of persistent supply deficits support crude prices, which feed into biofuel economics and soybean oil and corn ethanol margins.
energynow.comJun 29, 2018After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
