Iranian sanctions contribute to supply uncertainty (10/11/2018)

In the October 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) increased the forecast spot price for Brent crude oil to $74 per barrel (b) in 2018 and to $75/b in 2019, up by $2/b and $1/b, respectively, from last month's forecast. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $68/b in 2018 and $70/b in 2019. The October STEO forecast reflects market responses to significant uncertainty about the effects of sanctions on Iran and the response members of the Organization of the Petroleum Exporting Countries (OPEC) and other countries might have. ... More »