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The EIA's December short-term outlook forecasts Brent averaging $57 per barrel in 2018, up from $54 in 2017. It also projects U.S. crude output reaching a record 10.0 million barrels per day in 2018.
A higher Brent forecast supports energy costs and biofuel economics, though record U.S. output limits upside for crude prices.
energynow.caDec 12, 2017After 116 past bullish report events, 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, 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.
