A look back at our forecast for global crude oil prices in 2024
Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year that we had forecast in our January 2024 Short-Term Energy Outlook (STEO) and more in-depth analysis. In the January 2024 STEO, we forecast that markets would be relatively balanced in 2024, changing little from the 2023 average Brent price of $82/b. On an annual basis, our forecast for balanced markets was relatively accurate, as global inventories showed only a slight drawdown of 0.18 million barrels per day in 2024.
Looking back on geological activity in Yellowstone during 2024
Yellowstone Caldera Chronicles is a weekly column written by scientists and collaborators of the Yellowstone Volcano Observatory. This week's contribution is from Michael Poland, geophysicist with the U.S. Geological Survey and Scientist-in-Charge of the Yellowstone Volcano Observatory. Aerial view of Biscuit Basin, Yellowstone National Park, showing debris deposited by the July 23, 2024, hydrothermal explosion from Black Diamond Pool. Major features are labeled. The main debris field (within dashed yellow line) has a gray appearance. Photo taken by Joe Bueter, Yellowstone National Park, on July 23, 2024. In Yellowstone, 2024 will probably be remembered as the year of the hydrothermal