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1. www.eia.gov › todayinenergy › detailCrude oil prices increased in first-half 2022 and declined in ...

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   The WTI price followed a similar path as the Brent crude oil price in 2022, averaging $5/b less than the Brent crude oil price, compared with $3/b less in 2021. The Brent-WTI crude oil spread (the difference between the two prices) increased in 2022 relative to 2021 because European countries needed to replace crude oil supplies they were importing from Russia with crude oil from another source.

2. www.jpmorgan.com › commodities › oil-price-forecastThe Forecast for Oil Prices | J.P. Morgan Research

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   2 days ago · In addition, global oil inventories are much lower today, currently standing at 4.4 billion barrels — the lowest on record since January 2017. Overall, J.P. Morgan Commodities Research forecasts Brent could average $80/bbl in the fourth quarter of 2024 and $75/bbl in 2025, declining to the low $60s by end-2025.

3. www.eia.gov › prices-and-outlookOil and petroleum products explained Oil prices and outlook

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   Aug 16, 2023 · Factors that affect oil prices such as hurricanes and extreme weather, political events, and OPEC oil production targets and spare crude oil production capacity.

4. www.eia.gov › todayinenergy › detailEIA expects crude oil prices higher than $100 per barrel in ...

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   Mar 16, 2022 · In our March 2022 Short-Term Energy Outlook (STEO), which was finalized on March 3, we increased our forecast price of international benchmark Brent crude oil to $116 per barrel (b) for the second quarter of 2022. We expect gasoline prices to average about $4.10 per gallon (gal) during the second quarter of 2022 and then decline through the ...

5. www.fxempire.com › commodities › wti-crude-oilWTI Oil (CL) Price Today, Forecasts & News | FX Empire

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   6 days ago · WTI Oil live spot price, charts and Macro Data. Read the latest Energy forecasts, financials, market news.

6. www.nytimes.com › 2022/02/02 › businessWhy Are Oil Prices So High and Will They Stay That Way?

   www.nytimes.com › 2022/02/02 › business

   Feb 2, 2022 · What impact would higher oil prices have on the U.S. economy? A big jump in oil prices would push gasoline prices even higher, and that would hurt consumers.

7. People also ask

   Why are crude oil prices rising?

   • This sharp rise in crude oil prices reflects increased geopolitical risk and uncertainty regarding how announced and potential future sanctions may affect global energy markets.

   EIA expects crude oil prices higher than $100 per barrel in coming

   www.eia.gov/todayinenergy/detail.php?id=51658

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   How much will gasoline cost in 2022?

   • We expect gasoline in the United States to average $4.00/gal this month and to continue rising to a forecast high of $4.12/gal in May before gradually falling through the rest of the year. We forecast the U.S. regular retail gasoline price will average $3.79/gal in 2022 and $3.33/gal in 2023.

   EIA expects crude oil prices higher than $100 per barrel in coming

   www.eia.gov/todayinenergy/detail.php?id=51658

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   Why are oil prices so low in 2020?

   • The pandemic depressed energy prices in 2020, even sending the U.S. benchmark oil price below zero for the first time ever. But prices have snapped back faster and more than many analysts had expected in large part because supply has not kept up with demand. Oil prices are at their highest point since 2014.

   Why Are Oil Prices So High and Will They Stay That Way?

   www.nytimes.com/2022/02/02/business/economy/oil-price.html

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   How much will Brent crude cost in 2022?

   • A survey of 43 economists and analysts forecast Brent crude would average $79.16 a barrel this year, the highest projection for 2022 thus far and a notable increase from December's $73.57 consensus. U.S. crude was forecast to average $76.23 in 2022, versus the $71.38 forecast last month.

   Rising geopolitical tension and demand send oil price outlook soaring

   www.reuters.com/business/rising-geopolitical-tension-demand-send-oil-price-outlook-soaring-2022-01-31/

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   Why is crude oil sold in a spot market?

   • Crude oil is also sold in spot transactions— on the spot purchases of a single shipment for prompt delivery at the current market price. Prices in spot markets send a clear signal about the balance of supply and demand. Rising prices indicate that additional supply is needed, and falling prices indicate there is too much supply for current demand.

   Oil and petroleum products explained Oil prices and outlook

   www.eia.gov/energyexplained/oil-and-petroleum-products/prices-and-outlook.php

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   How do futures markets affect oil prices?

   • Futures markets also provide information about the physical supply and demand balance as well as the market's expectations. The significant changes in world oil prices in the past decade demonstrate how all of these factors can influence oil prices, and they demonstrate the difficulty in projecting oil prices. EIA projects crude oil prices in the:

   Oil and petroleum products explained Oil prices and outlook

   www.eia.gov/energyexplained/oil-and-petroleum-products/prices-and-outlook.php

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8. www.reuters.com › business › rising-geopoliticalRising geopolitical tension and demand send oil price outlook ...

   www.reuters.com › business › rising-geopolitical

   Jan 31, 2022 · U.S. crude was forecast to average $76.23 in 2022, versus the $71.38 forecast last month. "Given how tight markets are, oil certainly can rally above $100, particularly if OPEC+ supply...