EIA raises its price forecasts for U.S. and Brent crude oil for this year and next.

October 7: The EIA Short-Term Energy Outlook report states that it expects the 2026 WTI crude oil price to be $88.21 per barrel, compared with the previous forecast of $84.65 per barrel. It expects the 2027 WTI crude oil price to be $79.74 per barrel, compared with the previous forecast of $69.74 per barrel.

It expects the 2026 Brent price to be $96.32 per barrel, compared with the previous forecast of $91.01 per barrel. It expects the 2027 Brent price to be $83.74 per barrel, compared with the previous forecast of $73.74 per barrel.