- The EIA lowered its forecast on oil prices in a new forecast.
- The government agency expects WTI prices to average $37.59/bbl this year vs. $38.54/bbl prior forecast. The EIA sees Brent crude averaging $37.52/bbl in 2016 vs. $40.15 prior view.
- U.S. retail gas prices are seen averaging $1.98/gallon this year and $2.21/gallon in 2017.
- Oil futures are lower on the day.
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, UGA, USL, DNO, UHN, OLO, SZO, OLEM.