EIA: Brent up slightly over June forecast

Expected to average $69 this year, up from $66, but dropping to $58 in 2026; Henry Hub also down to $3.70 per Btu from $4 in June

Kristen Nelson

Petroleum News

The U.S. Energy Information Administration said July 8 in its Short-Term Energy Outlook that it has revised its forecast for the Brent crude oil price for 2025 to an average of $69 per barrel, up 4.4% from the June forecast of $66 per barrel.....

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Growing inventories

Global consumption

US production declines

Henry Hub