EIA Raises Brent Spot Price Forecast ...Middle East

The Energy Information Administration raised its outlook for Brent crude oil spot prices for this year and next, according to the agency’s Short Term Energy Outlook published on Tuesday. The EIA sees Brent crude oil prices averaging $82.62 per barrel this year—an upward revision of some $4 per barrel, the STEO showed. For next year, the EIA predicts Brent will average $86.48 per barrel, an upward revision of some $2 per barrel, or 3.6%. For August, the EIA sees Brent crude averaging $85 per barrel. “Crude oil prices have increased…

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