Fueling Strategy: Please fuel as needed today/tonight – Be Safe

Despite an escalation in Libya’s oil war, crude prices fell on Tuesday morning as a deadly virus in China sparked fears of an economic slowdown.

* The EIA forecasts Brent oil prices averaging $65 per barrel in 2020 and $68 per barrel in 2021, and WTI averaging $59 and $62 per barrel over the same timeframe.

* The agency says prices could remain elevated in early 2020 because of geopolitical risk, but the premium will fade as the year wears on.

* The EIA sees Brent dropping to $62 per barrel by May.