By  Trend

World oil prices slightly decreased on July 18.

The price for September futures of Brent oil has decreased by 0.02 percent to $48.41 per barrel as of 2:11 a.m. EDT (UTC-4).The price for August futures of West Texas Intermediate (WTI) has decreased by 0.11 percent and stood at $45.97 per barrel as of 2:11 a.m. EDT (UTC-4).

The US Energy Information Administration (EIA) in its July 2017 Short-term Energy Outlook forecasts average price for Brent oil at $50.79 per barrel in 2017 and $51.58 per barrel in 2018.

WTI oil prices are forecast at $48.95 per barrel in 2017 and $49.58 per barrel in 2018, according to the EIA.