August 6th, 2016
FFC is forecasting the price of crude oil to be $42.80/bbl for August 2016, down from an average price of $44.65/bbl in July 2016. The price of crude oil is projected to trend down in the near term due to falling seasonal demand.
The forecast below breaks down the predicted average price of crude oil by month.
Updated Aug 2016
Did you know? BBL stands for blue barrel, a standard 42 gallon oil barrel set by Standard Oil Company, the predecessor of Exxon.
A long range forecast for Crude Oil Prices and similar economic series is available by subscriptionClick here to subscribe to FFC's Extended Forecasts.
|August 25, 2016 (Close of Day)|
|US GDP Growth, %||1.23|
|US Inflation Rate, %||0.84|
|US Unemployment Rate, %||4.9|
|Gold Price, $/oz||1,321.30|
|WTI Oil Price, $/bbl||47.33|
|US 10 Yr Treasury, %||1.58|