![]() ![]() Therefore, oil can trade sideways, unwelcome news for Chesapeake Energy. The Energy Information Administration (EIA) expects Brent crude oil spot prices to average $64.80 in 2020 the Brent spot price averaged $64.40 in 2019. That said, it’s unlikely that there will be an immediate impact on oil prices. Easing trade tensions with China, however, are a positive that could trigger higher GDP growth. As tensions deescalate with Iran, oil prices have again trended lower, which is bad news for Chesapeake Energy. ![]() Lets’s start with the macroeconomic factors.
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