US crude oil futures  

July US crude oil (IEZ) (BNO) (IXC) futures are trading below their 20-day, 50-day, 100-day, and 200-day moving averages of $47.51, $48.98, $50.9, and $51.7 per barrel as of June 19, 2017. Moving averages suggest that prices could trade lower.

Brent crude oil futures 

Brent crude oil futures are trading below their 20-day, 50-day, 100-day, and 200-day moving averages of $49.9, $51.6, $53.3, and $53.8 per barrel as of June 19, 2017. Moving averages suggest that prices could trade lower.

Lower crude oil prices have a negative impact oil and gas producers’ earnings like Hess (HES), Stone Energy (SGY), and Triangle Petroleum (TPLM).

US and Brent Crude Oil Price Forecast for the Next 6 Months

Crude oil price forecasts 

A market survey from 31 banks suggests that US crude oil prices will average $54.3 per barrel and $55.5 per barrel in 3Q17 and 4Q17, respectively.

A market survey from 33 banks suggests that Brent crude oil prices will average $56.25 per barrel and $57.56 per barrel in 3Q17 and 4Q17, respectively.

US and Brent crude oil prices averaged $43.3 per barrel and $43.7 per barrel in 2016, respectively. The expectation of higher production from the US, Brazil, Canada, Libya, and Nigeria could weigh on crude oil prices in 2017 and 2018.

Read Traders Are Tracking the US Dollar, Rigs, and Inventories and Will US Crude Oil Prices Hit $30 per Barrel? for more information on crude oil prices.

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