Resumption of Iran sanctions adds uncertainty to crude oil and gasoline price forecasts">Resumption of Iran sanctions adds uncertainty to crude oil and gasoline price forecasts
(Wed, 24 Oct 2018) EIAâs October 2018 <em>Short-Term Energy Outlook</em> (STEO) forecasts Brent crude oil spot prices, which averaged $79 per barrel (b) in September, to average $81/b in the fourth quarter of 2018, before falling to an average of $75/b in 2019. However, the effects of the U.S. withdrawal from the Joint Comprehensive Plan of Action (JCPOA), the re-imposition of sanctions on Iran, and the potential response from members of the Organization of the Petroleum Exporting Countries (OPEC) and other countries pose significant uncertainty to the forecast.
Leave a comment