EIA pins Brent near $100 a barrel through the rest of the year
The US Energy Information Administration expects Brent crude to hold around $100 a barrel until year-end, with WTI averaging $88.29. October marked a third straight monthly price climb, driven by shrinking inventories, Persian Gulf tanker attacks and squeezed shipping capacity.
- Original source: breakingthenews.net.
- The source published it on Nov 10, 2026 at 5:26 PM.
- No second outlet has reported it yet. Treat it as a single-source claim.
Brent crude spot prices will stay close to $100 a barrel through the rest of the year, the US Energy Information Administration said Tuesday in its Short-Term Energy Outlook. West Texas Intermediate is projected to average $88.29 by year-end.
October was the third consecutive month of rising crude prices, the agency noted, citing falling global inventories, attacks on oil tankers in the Persian Gulf, constrained shipping capacity and higher transportation costs tightening supply. The EIA expects most Middle East production outside Iran to return to pre-conflict levels by the middle of next year.
Longer out, the pressure eases. Brent is seen gradually declining to an average of $77 a barrel in the final quarter of 2027, with WTI around $72 over the same stretch.
US crude production is forecast to reach 14.3 million barrels per day next year, a 3% jump from the 13.9 million barrels per day projected for 2026.
TopicsEIA · Brent crude · WTI · Iran · Persian Gulf · Short-Term Energy Outlook
Source: breakingthenews.net
Written by Paparazzi with AI. Not financial advice.
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