US Energy Cuts 2013 Oil Projection to $91.92

Bloomberg reported that the United States Energy Information Administration lowered its crude oil price projections for this year. West Texas Intermediate will average $91.92/barrel, which is 1% lower than its February estimate.

As quoted in the market news:

The U.S. benchmark grade will average $92.17 in 2014, unchanged from the previous month’s estimate.

Click here to read the full Bloomberg report.