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Crude Oil Price Forecast

May 5th, 2016

FFC is forecasting the price of crude oil to be $44.30/bbl for May 2016, up from an average price of $40.76/bbl in April 2016.  The price of crude oil (WTI) will cycle up over the next 3 months due to seasonal demand.

The forecast below breaks down the predicted price of crude oil by month.


Crude Oil Price Forecast Values

West Texas Intermediate. USD/bbl. Average of Month.

Month Date Forecast Value Error
0 Apr 2016 40.76 ±0.0
1 May 2016 44.3 ±1.9
2 Jun 2016 45.0 ±2.4
3 Jul 2016 45.0 ±2.7
4 Aug 2016 44.6 ±3.0
5 Sep 2016 44.0 ±3.2
6 Oct 2016 43.6 ±3.4

Updated May 2016

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Crude Oil Price Chart with Current Prediction

West Texas Intermediate.  US Dollars per barrel.

Chart of Crude Oil Prices with Forecast

Did you know?  BBL stands for blue barrel, a standard 42 gallon oil barrel set by Standard Oil Company, the predecessor of Exxon.

Other Commodity Price Links of Interest:

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Current Economic Indicators
May 24, 2016 (Close of Day)
Indicator Value
S&P 500 2,076.06
US GDP Growth, % 1.95
US Inflation Rate, % 1.13
US Unemployment Rate, % 5.0
Gold Price, $/oz 1,236.85
WTI Oil Price, $/bbl 48.62
US 10 Yr Treasury, % 1.86