The Energy Department increased its price forecasts for West Texas Intermediate crude for 2014, narrowing the U.S. benchmark’s discount to Brent.
The U.S. Energy Department reduced its crude oil price forecast for 2010 on concern that global economic growth may slow and on ample U.S. stockpiles.
The U.S. Energy Information Administration increased its West Texas Intermediate crude price forecast for 2013 after prices surged in July.
The U.S. Energy Information Administration raised its West Texas Intermediate crude price forecast for 2013 as floods in Canada and new outlets reduced glut concerns in the central U.S.
U.S. crude oil production exceeded imports in October for the first month since February 1995, the U.S. Energy Information Administration said.
U.S. retail gasoline prices, down 11 percent from a 34-month high on May 4, may keep falling through the Fourth of July weekend as fewer Americans take to the road because of high costs and a slowing economy.
The Energy Department increased its crude oil price forecast for 2011 on projections of greater global fuel consumption.
The U.S. Energy Department bolstered its crude oil price forecast for 2011 on projections for higher global economic growth.
U.S. gasoline at the pump may rise 13 percent by May as crude oil in New York tops $100 a barrel and a recovering economy boosts fuel demand, according to analysts surveyed by Bloomberg News.
Heating oil fell as a slowdown in manufacturing in Europe and China threatened to reduce global demand for diesel.
"The lower forecast reflects what happened in the market with a drop in Brent crude-oil prices, the improving market perception of reduced risk for Iraqi oil exports and the recent news on increasing Libyan oil exports."
- Tancred Lidderdale on Aug 12, 2014