Crude oil price forecast today the latest crude oil price forecast

The latest crude oil price forecast today projects moderate upward drift in Brent as shipping bottlenecks reduce supply chain efficiency, impacting short-term price action. Refiner margins are also on the rise. The Japanese stock market on Thursday wrote a finish to the four-day losing streak in which it had slumped almost 1,200 points or 2.7 percent. The Nikkei 225 now sits just above the 44,930-point plateau and it may add to its winnings on Friday. U.S. shale production will likely plateau if WTI prices remain in the low $60s per barrel, and decline at prices in the $50s, ConocoPhillips chairman and CEO Ryan Lance said in May. The crude oil price forecast today remains positive, with WTI futures climbing 0.5%. Short-term RSI readings indicate overbought conditions, but fundamental support from strong Asian imports keeps sentiment firm across the energy indices.