SMU Analysis: Energy Use Rising, Oil Prices at 32-Month High

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The Energy Information Administration’s June Short-Term Energy Outlook remains subject to heightened levels of uncertainty related to the ongoing economic recovery from the COVID-19 pandemic. That big caveat aside, the increase in economic activity and an easing of the pandemic have contributed to rising energy use. The EIA expects oil production to increase in the coming months in response to rising consumption, and it anticipates a mostly balanced global oil market for the remainder of 2021. Crude oil prices are forecast to remain steady through the remainder of the year, while natural gas prices are expected to slightly increase.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

Brett Linton

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