BANGKOK, 23 June 2015, Thai Oil Co. Ltd. expects fuel prices to fluctuate this week, urging investors to keep a close watch on decreasing U.S. crude reserves and Greece’s debt crisis.
The company forecast West Texas crude oil prices to vary from 58 – 63 U.S. dollars per barrel, while Brent oil price would likely be in the range of 61 – 66 U.S. dollars per barrel.
Thai Oil disclosed that the fluctuating prices are a direct result of decreasing U.S. crude reserves caused by increasing demand over the summer and decreasing supply due to low crude prices.
The company forecast crude oil price would be also affected by the dollar appreciating against the euro currency, due to concern that Greece would not be able to pay its debt to the International Monetary Fund by its June 30 deadline.
