Robin Brooks: Oil prices set to fall to $3.5 per gallon as markets normalize

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2 hours ago

Robin Brooks: Oil prices set to fall to $3.5 per gallon as markets normalize — Oil pump prices forecast to drop further

Robin Brooks expects global oil markets to continue normalizing, leading to a rapid decline in prices at the pump. According to Brooks, prices are predicted to fall to around $3.5 per gallon in the coming weeks, down from a recent peak near $4.5 per gallon. He attributes this drop to market anticipation and the finalization of a peace deal.

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Brooks previously suggested that a peace deal could cut Brent crude’s risk premium, reducing oil prices to $85 a barrel and U.S. gas prices to $4 per gallon, according to his outlook earlier this year. He also noted that persistent conflict had kept Brent crude trading in the $80-90 range due to elevated risk premiums in a separate analysis. These earlier projections set the stage for his latest forecast of further price declines.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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