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Goldman Sachs predicts that oil prices could fall about 20% to the low $60s by the end of 2026. The analysts point to Trump's proposals for tariffs, posing demand risks in an already oversupplied ...
US gas prices will fall to $3.20 per gallon this year and $3.00 per gallon in 2026, the EIA says. The agency says the global oil glut will expand in the next two years, putting downward pressure ...
Oil prices rose than $6 per barrel (5.47 euros) this week and prices at the pump moved higher as well. The average price for a gallon of gas rose 5 cents from last week.
Despite a fall in prices due to negative economic news leading to expectations of lower demand, oil rose the next week for the first time in two months, with Brent finishing at $76.55 and WTI at $71.43. Also contributing to lower prices was a prediction of lower interest rates. [45]
Average oil price/barrel projections: Citi: Brent $80, WTI $75 "Our base case, by the way, is that oil demand growth next year is going to be around 1.2 or 1.3 million barrels a day.
Over the next three days, the increase in oil prices erased the previous week's losses. WTI climbed to $68.36 and Brent to $72.25 on August 25. Fuel demand in the U.S. was the highest since before the pandemic, U.S. crude inventories were the lowest since January 2020, and China reported fewer new COVID-19 cases. [59]
Crude oil prices were on a roller coaster ride in 2022, going north of $130 in March amid the Russian invasion of Ukraine.
Oil prices have room to go higher and could peak short of $100 per barrel, according to one Wall Street analyst. ... On Wednesday, the national average for gasoline stood at $3.62, up $0.23 from ...