US EIA hikes oil price forecasts again amid Iran war
The US Energy Information Administration (EIA) has again raised its oil price forecasts for this year and next, citing rapidly falling global stockpiles and tight diesel markets due to the ongoing Iran war.
The US Energy Information Administration raised its oil price forecast for this year and next year on Tuesday, citing rapidly falling global stockpiles and tight diesel markets amid the ongoing Iran war. Attacks on Saudi Arabia's East-West Pipeline, a key export route for one of the world's largest oil producers, were also referenced in the source text.