Highlights North Sea Brent crude oil spot prices increased from a monthly average of $108/barrel (bbl) in April to $110/bbl in May. This was the 11th consecutive month in which the average Brent crude oil spot price fell within a relatively narrow range of $107/bbl to $112/bbl. The discount of West Texas Intermediate (WTI) crude oil to Brent crude oil, which averaged more than $13/bbl from November through January, fell below $4/bbl in early April before increasing to an average of $7/bbl in May. EIA projects Brent crude oil prices to average $108/bbl in 2014 and $102/bbl in 2015 and the WTI discount to Brent to average $9/bbl and $11/bbl in 2014 and 2015, respectively During the April-through-September summer driving season this year, regular gasoline retail prices are forecast to average $3.62/gallon (gal), 4 cents higher than last year. The projected monthly national average regular gasoline retail price falls […]