Sufficient supply and uninterrupted oil trade flows despite the Middle Eastern conflicts are set to keep oil prices close to the $80 per barrel threshold this year, the monthly Reuters poll of analysts showed on Thursday. For the fourth consecutive month, more than three dozen analysts and economists continued to revise down slightly their forecast for the average price of the two most traded benchmarks, Brent and WTI, the Reuters poll found.
An extension would contribute to a perception of a tightening oil market that has served to keep oil prices elevated for most of the past two months. As of 745 a.m. EST on Thursday, Brent prices were slightly down by 0.13% at $83.62, while the U.S. benchmark, WTI Crude, traded 0.17% higher at $78.65.
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