[EIA: Brent Oil Price Expected to Average Around $106/Barrel in May-June] Odaily Planet Daily News - The EIA released its Short-Term Energy Outlook report, which mentioned that Brent crude oil spot prices surged significantly in April due to the effective closure of the Strait of Hormuz, tightening global oil supply. Prices peaked at $138 per barrel on April 7, with a monthly average of $117 per barrel. It is expected that global oil inventories will decrease by an average of 8.5 million barrels per day in the second quarter of 2026, keeping Brent oil prices around $106 per barrel in May and June. With increased oil production in the Middle East, we anticipate crude oil prices will decline, dropping to an average of $89 per barrel in the fourth quarter of 2026 and to $79 per barrel in 2027. (Jin10)