EIA: Gasoline Prices expected to average $2.36/gal in 2016

Wednesday: • At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • At 10:00 AM, the Monthly Wholesale Trade: Sales and Inventories for October . The consensus is for a 0.2% increase in inventories. Oil prices have fallen sharply, with Brent at $40.83 per barrel, and WTI at $38.17. Currently the EIA expects gasoline prices to average $2.36/gal in 2016 according to the Short Term Energy Outlook released today: • EIA forecasts that Brent crude oil prices will average $53/b in 2015 and $56/b in 2016. Forecast West Texas......(read more)

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