Daily spot prices for Brent closed at almost $124 per barrel in the first week of March. The U.S. Energy Information Administration (EIA) has raised its 2022 Brent spot average price forecast by more than $22 per barrel, the organization’s March Short Term Energy Outlook (STEO) has revealed. The EIA now projects that the average Brent spot price will be $105.22 per barrel this year, which marks a $22.35 difference compared to its February STEO, which forecasted that the Brent spot price would average $82.87 per barrel in 2022. In its latest STEO, the EIA highlighted that Brent crude oil spot prices averaged $97 per barrel in February, which the organization outlined was an $11 per barrel increase from January. The EIA noted in the March STEO that daily spot prices for Brent closed at almost $124 per barrel in the first week of March as the further invasion […]