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1. • • The rise in economic activity drives our forecast of rising global oil consumption, and it contributes to significantly higher Brent crude oil prices this summer compared with last summer. We expect Brent will average $64 per barrel (b) this summer, which would be $28/b higher than last summer.
     Reference:

     Summer Fuels Outlook - U.S. Energy Information Administration ...

2. People also ask

   Why did oil prices rise 1% on Monday?

   • By Laila Kearney NEW YORK (Reuters) -Oil prices rose about 1% on Monday, spurred by the prospect of strong summer driving demand and as tensions in the Middle East and drone attacks on Russian refineries led to concerns about supply. An easing U.S. dollar added to the crude price strength.

   Oil prices rise on fuel demand expectations, easing US dollar

   www.msn.com/en-ca/money/topstories/oil-prices-rise-on-fuel-demand-expectations-easing-us-dollar/ar-BB1oOqRK

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   Why are oil prices rising in the United States?

   • In contrast, the United States is entering its peak summer driving season, providing a boost to oil demand. Expectations of rising gasoline consumption and declining oil and fuel stockpiles in the world’s largest economy are offering support to prices. Traders are closely monitoring U.S. economic indicators, particularly inflation data.

   Crude Oil News Today: Bullish Traders Banking on US Summer Demand …

   www.nasdaq.com/articles/crude-oil-news-today-bullish-traders-banking-us-summer-demand-surge

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   Are US oil prices poised to surge another 10% this summer?

   • US oil prices rallied to a seven-month high this week as geopolitical risks ramped up, and Bank of America says they're poised to surge another 10% by this summer. Brent crude futures hovered near $89.77 per barrel on Wednesday morning, while West Texas Intermediate crude futures are trading at approximately $85.89 a barrel.

   Oil Price Outlook: Why WTI, Brent Could Rally 10% by Summer, BofA Says

   markets.businessinsider.com/news/commodities/oil-price-outlook-forecast-increase-brent-wti-crude-summer-bofa-2024-4

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   Why did oil prices hit a 7-month high this week?

   • US oil prices hit a seven-month high this week amidst rising geopolitical risks and falling inventories. Bank of America forecasts Brent and WTI will average $86 and $81 per barrel this year, and both peak around $95 in summer.

   Oil Price Outlook: Why WTI, Brent Could Rally 10% by Summer, BofA Says

   markets.businessinsider.com/news/commodities/oil-price-outlook-forecast-increase-brent-wti-crude-summer-bofa-2024-4

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3. www.msn.com › en-ca › moneyOil prices rise on fuel demand expectations, easing US dollar

   www.msn.com › en-ca › money

   By Laila Kearney. NEW YORK (Reuters) -Oil prices rose about 1% on Monday, spurred by the prospect of strong summer driving demand and as tensions in the Middle East and drone attacks on Russian ...

4. markets.businessinsider.com › news › commoditiesOil Price Outlook: Why WTI, Brent Could Rally 10% by Summer ...

   markets.businessinsider.com › news › commodities

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   Apr 3, 2024 · The Bank of America Global Research team forecasts Brent and WTI crude prices to average $86 and $81 per barrel this year, with both peaking around $95 per barrel each during the summer. That...

   • Founder: Thomas Greaney And Finanzen.Net

5. www.theglobeandmail.com › business › industry-newsOil prices rise on fuel demand expectations, easing U.S. dollar

   www.theglobeandmail.com › business › industry-news

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   5 days ago · U.S. crude settle at $81.63 a barrel ... will inevitably plunge during the summer in the northern hemisphere,” said Tamas Varga of oil broker PVM, referring to seasonal demand for oil products. ...

6. www.theglobeandmail.com › business › industry-newsOil rises to one-week high on hopes of higher summer fuel demand

   www.theglobeandmail.com › business › industry-news

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   Jun 10, 2024 · Oil prices climbed about 3 per cent to a one-week high on Monday, buoyed by hopes of rising fuel demand this summer despite a stronger U.S. dollar and expectations the U.S. Federal Reserve...

7. www.reuters.com › business › energyOPEC sees robust summer oil demand, economic upside potential

   www.reuters.com › business › energy

   Apr 11, 2024 · LONDON, April 11 (Reuters) - OPEC predicted robust fuel use in the summer months on Thursday and stuck to its forecast for relatively strong growth in global oil demand in 2024, highlighting an...

8. www.nasdaq.com › articles › crude-oil-news-todayCrude Oil News Today: Bullish Traders Banking on US Summer ...

   www.nasdaq.com › articles › crude-oil-news-today

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   4 days ago · Light crude oil futures are struggling for a fourth straight session early Tuesday. The market is trading on the strong side of both the 50-day moving average at $78.88 and the 200-day moving ...

9. www.eia.gov › outlooks › steoShort-Term Energy Outlook - U.S. Energy Information ...

   www.eia.gov › outlooks › steo

   • Cached

   Jun 11, 2024 · Recent increases in the volatility of crude oil prices highlight a wide range of potential crude oil prices that could develop over the summer. As we update our forecast monthly through the summer, our crude oil price forecast could change, depending on several factors.