The U.S. Power Info Administration (EIA) revealed its newest West Texas Intermediate (WTI) spot value forecasts in its January quick time period power outlook (STEO), which was launched not too long ago.
In that STEO, the EIA projected that the WTI spot value will common $70.31 per barrel in 2025 and $62.46 per barrel in 2026. The EIA’s earlier STEO, which was launched in December, forecast that the 2025 WTI spot value would common $69.12 per barrel. That STEO didn’t embrace a WTI spot value forecast for 2026.
A quarterly breakdown included within the newest STEO confirmed that the EIA expects the WTI spot value to return in at $72.34 per barrel within the first quarter of this 12 months, $71 per barrel within the second quarter, $70 per barrel within the third quarter, $68 per barrel within the fourth quarter, $64.97 per barrel within the fifth quarter of 2026, $63.33 per barrel within the second quarter, $61.68 per barrel within the third quarter, and $60 per barrel within the fourth quarter of subsequent 12 months.
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The EIA’s December STEO projected that the WTI spot value would common $69.67 per barrel within the first quarter of 2025, $69.83 per barrel within the second quarter, $69.50 per barrel within the third quarter, and $67.50 per barrel within the fourth quarter.
The EIA’s January STEO put the 2024 WTI spot value common at $76.60 per barrel. Its December STEO had it at $76.51 per barrel.
A analysis notice despatched to Rigzone by the JPM Commodities Analysis workforce on Monday revealed that J.P. Morgan expects the WTI crude value to common $69 per barrel in 2025, and $57 per barrel in 2026.
The corporate sees the WTI crude value coming in at $70 per barrel within the first quarter of this 12 months, $73 per barrel within the second quarter, $69 per barrel within the third quarter, $65 per barrel within the fourth quarter, $60 per barrel within the first quarter of subsequent 12 months, $59 per barrel within the second quarter, $55 per barrel within the third quarter, and $53 per barrel within the fourth quarter of 2026, in response to the analysis notice.
The analysis notice put the 2024 WTI value common at $77 per barrel.
A report despatched to Rigzone by Commonplace Chartered Financial institution Commodities Analysis Head Paul Horsnell this week confirmed that Commonplace Chartered expects the NYMEX WTI Foundation close by future crude oil value to common $79 per barrel within the first quarter of 2025, $81 per barrel within the second quarter, $86 per barrel within the third quarter, $90 per barrel within the fourth quarter, $88 per barrel within the first quarter of 2026, and $90 per barrel within the second quarter.
A BMI report despatched to Rigzone by the Fitch Group final month confirmed that BMI, a Fitch Options firm, projected that the WTI crude entrance month value would common $77 per barrel in 2024 and $73 per barrel in 2025.
In an oil and gasoline report despatched to Rigzone by the Macquarie workforce on Wednesday, Macquarie strategists famous that “each WTI and Brent speculative (MM + Different) internet size grew over the previous week”.
“WTI internet size elevated by 37.9K whereas Brent rose by 22.3K. WTI spec internet size gained as new lengthy curiosity was over 5 larger than added shorts,” the strategists highlighted in that report.
In a market evaluation despatched to Rigzone early Thursday, Antonio Di Giacomo, Senior Market Analyst at XS.com, highlighted that the worth of WTI crude oil had “skilled a notable enhance, surpassing $80 per barrel”.
To contact the creator, e mail andreas.exarheas@rigzone.com
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