# EIA expects Brent crude prices will average $71 per barrel in 2018, $68 per barrel in 2019

> The EIA's June 2018 Short-Term Energy Outlook forecasts Brent averaging $71 per barrel in 2018 and $68 in 2019, with 2019 raised $2 from the May forecast. The agency expects prices to decline in coming months as global inventories rise in the second half of 2018 and 2019.

- Date: 2018-07-01 · published 2018-07-01T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/64686-eia-expects-brent-crude-prices-will-average-71-per-barrel-in-2018-68-per-barrel
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A forecast of falling crude prices and rising inventories in late 2018 and 2019 is mildly bearish for energy-linked feed input costs and biofuel feedstock demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-06-01 | [EIA expects lower crude oil prices for the second half of 2023 and for 2024](https://feedsoft.ai/events/36102-eia-expects-lower-crude-oil-prices-for-the-second-half-of-2023-and-for-2024.md) | +6.3% | +2.1% |
| BRENT | 2018-08-15 | [Oil prices sink after big, unexpected jump in US crude stockpiles](https://feedsoft.ai/events/63706-oil-prices-sink-after-big-unexpected-jump-in-us-crude-stockpiles.md) | +0.7% | +9.8% |
| BRENT | 2025-06-10 | [Crude price fall to continue in 2025-26 as global production outpaces demand: US EIA](https://feedsoft.ai/events/24394-crude-price-fall-to-continue-in-2025-26-as-global-production-outpaces-demand-us.md) | +9.2% | +4.2% |
| BRENT | 2020-09-04 | [Refiners and Crude Prices Can't Escape Diesel Backlog- DTN](https://feedsoft.ai/events/10231-refiners-and-crude-prices-can-t-escape-diesel-backlog-dtn.md) | -8.6% | -7.0% |
| BRENT | 2022-12-06 | [EIA revises down Brent price forecast for 2023 \| Oil & Gas Journal](https://feedsoft.ai/events/38413-eia-revises-down-brent-price-forecast-for-2023-oil-and-gas-journal.md) | -6.1% | -7.8% |
| WTI | 2023-06-01 | [EIA expects lower crude oil prices for the second half of 2023 and for 2024](https://feedsoft.ai/events/36102-eia-expects-lower-crude-oil-prices-for-the-second-half-of-2023-and-for-2024.md) | +6.5% | +2.6% |
| WTI | 2018-08-15 | [Oil prices sink after big, unexpected jump in US crude stockpiles](https://feedsoft.ai/events/63706-oil-prices-sink-after-big-unexpected-jump-in-us-crude-stockpiles.md) | +0.4% | +5.0% |
| WTI | 2025-06-10 | [Crude price fall to continue in 2025-26 as global production outpaces demand: US EIA](https://feedsoft.ai/events/24394-crude-price-fall-to-continue-in-2025-26-as-global-production-outpaces-demand-us.md) | +9.9% | +5.1% |

## Sources

- eia.gov: https://www.eia.gov/todayinenergy/detail.php?id=36493

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