The US Energy Information Administration on Tuesday raised its forecasts for WTI and Brent prices as it said market activity indicates that recent inventory withdrawals and unplanned supply distributions have participants bracing for higher oil prices. Receive daily email alerts, subscriber notes & personalize your experience. Register Now In its April Short-Term Energy Outlook, EIA forecast WTI prices to average $58.80/b in 2019, up $2.16/b from March’s forecast, and Brent to average $65.15/b this year, up $2.37/b. EIA forecast WTI and Brent to average $58/b and $62/b, respectively, in 2020, the same as it forecast in March. The forecast for higher 2019 prices comes as derivatives trading volume has increased, indicating additional management of the risk of crude oil price increases, EIA said. Trading of June Brent call options with strike prices between $70/b and $90/b average 8,300 contracts per day in March, up 68% from January […]