US DATA: EIA May STEO: “EIA’s current forecast of….

US DATA: EIA May STEO: “EIA’s current forecast of the average U.S.
refiner acquisition cost of crude oil in 2012 is $110 per barrel, which
is $2.50 per barrel lower than in last month’s Outlook, but still about
$8 per barrel higher than last year’s average price. EIA expects the
price of West Texas Intermediate (WTI) crude oil to average about $104
per barrel in 2012, about $2 per barrel lower than the prior forecast.”
Sees ’12 world demand +0.96m bpd vs +0.89m prior. Sees WTI avg $104/bbl.
See http://www.eia.gov/forecasts/steo/