The global benchmark Brent crude oil topped $70 a barrel on January 11th this year despite concerns of its rally running out of steam. After a strong start to 2018, oil prices have rallied more than 13% since early December perhaps due to overheating of the market. read more
Brent crude oil spot prices are expected to remain fairly flat over 2017 in part as a result of the responsiveness of U.S. tight oil production to rising oil prices in late 2016. EIA forecasts Brent prices will slowly increase in 2018, beginning the year at $54/b in January and ending the year at $59/b in December. read more