The Energy Information Administration sees Brent crude oil prices averaging $107 per barrel in the second quarter this year, according to the latest Short Term Energy Outlook published on Tuesday. Brent crude prices averaged $105 per barrel in April. The EIA sees prices dipping in the second half of the year to $103 per barrel, according to the STEO, before falling to an average of $97 per barrel next year—more than double the average price for 2020. However, the EIA cautioned that it made these projections on May 5, prior to any EU ban on…
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