Brief-Term Vitality Outlook
North Sea Brent crude oil spot costs averaged $63 per barrel (b) in November, an increase of $5/b from the average in October. EIA forecasts Brent spot costs to common $57/b in 2018, up from a median of $54/b in 2017.
– West Texas Intermediate (WTI) crude oil costs are forecast to common $4/b decrease than Brent prices in 2018. After averaging $2/b decrease than Brent costs by way of the first eight months of 2017, WTI prices averaged $6/b lower than Brent the chemical company logo prices from September by November.
– U.S. common gasoline retail costs averaged $2.Fifty six per gallon (gal) in the chemical company logo November, an increase of nearly 6 cents/gal from the typical in October. The rise in November primarily reflected growing crude oil costs. Extraction of special distributor EIA forecasts the U.S. common gasoline retail worth will common $2.59/gal in December, 34 cents/gal greater than at the identical time final year. EIA forecasts that U.S.