LNG

Nov 11 (LNGJ) - North Sea Brent crude oil prices, which have such a bearing on LNG cargo prices and the economics of developing new liquefaction projects, averaged $48 per barrel in October, a $1 per barrel increase from September, the US Energy Information Administration said in its short-term outlook. The report noted that oil price volatility was lower during October than in August and September, but it remains "elevated" compared with levels in recent years. The EIA forecasts that Brent prices will average $54 per barrel in 2015 and $56 per barrel in 2016. The 2015 forecast price is unchanged from last month and the 2016 forecast is $2 per barrel lower.