The EIA now sees Brent spot prices averaging $71.38 per barrel in 2021. The U.S. Energy Information Administration (EIA) has increased its Brent spot average price forecasts for 2021 and 2022, its October short term energy outlook (STEO) has revealed. The EIA now sees Brent spot prices averaging $71.38 per barrel in 2021 and $71.91 per barrel in 2022. This marks a notable rise from the EIA’s September STEO, which forecasted average Brent spot prices of $68.61 per barrel in 2021 and $66.04 per barrel in 2022. In its latest STEO, the EIA highlighted that Brent crude oil spot prices averaged $74 per barrel in September, which it noted was up $4 per barrel from August and up $34 per barrel from September last year. The organization also drew attention to the fact that Brent spot prices have risen from their September average to more than $80 per barrel […]