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Crude Oil Price Forecast

July 7th, 2016

FFC is forecasting the price of crude oil to be $49.70/bbl for July 2016, up from an average price of $48.76/bbl in June 2016.  The price of crude oil (WTI) will peak this month before turning down due to falling northern hemisphere seasonal demand.

The forecast below breaks down the predicted average 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 Jun 2016 48.76 ±0.0
1 Jul 2016 49.7 ±1.9
2 Aug 2016 47.1 ±2.4
3 Sep 2016 44.0 ±2.7
4 Oct 2016 42.0 ±3.0
5 Nov 2016 40.0 ±3.2
6 Dec 2016 44.4 ±3.4

Updated Jul 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
July 28, 2016 (Close of Day)
Indicator Value
S&P 500 2,170.06
US GDP Growth, % 2.09
US Inflation Rate, % 1.01
US Unemployment Rate, % 4.9
Gold Price, $/oz 1,341.75
WTI Oil Price, $/bbl 41.14
US 10 Yr Treasury, % 1.52