The Financial Forecast Center™
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Below is a forecast of light, sweet crude oil prices that is based on prior values of both WTI and Brent crude oil prices, global oil production and consumption, crude oil inventories, currency exchange rates, and other commodity prices. To learn more about how this forecast is produced, please see our methodology page.
Chart of Light Sweet Crude Oil Prices. US Dollars per BBL. Includes Predicted Values.
Light Sweet Crude Oil Prices. USD/bbl. Average of Month.
|Month||Date||Forecast Value||Avg Error|
One of the primary causes of the price of crude oil is global economic activity, especially Asian economic activity. Two markers of economic activity tied to the price of oil are the Hang Seng (HSI) and FTSE 100 (FTSE) stock market indexes. As the HSI and FTSE go up, the price of crude oil will go up.
Other influences on the price of crude oil are certain currency exchange rates. The EMU Euro (EUR), Canadian dollar (CAD) and Singapore dollar (SGD) versus the US dollar are good indicators of where the price of crude oil is going. As the EUR, CAD and SGD strengthen versus the USD, the price of crude oil will go up.
A long range prediction for WTI crude oil prices and similar economic series is available by subscription. Click here for more information about FFC's Extended Forecasts.
|May 07, 2021|
|U.S. GDP Growth, YoY %||0.40|
|U.S. Inflation Rate, %||2.62|
|Gold Price, $/oz-t||1830.70|
|Crude Oil Futures, $/bbl||64.82|
|U.S. 10 Year Treasury, %||1.60|