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Commodities Briefing - Categorized | Market Moves, Oil more

Oil to set record in 2012 as U.S. dodges slump: Energy Markets

Posted on 23 December 2011

Crude oil may rise for a fourth year to a record average price in 2012 as demand in emerging markets increases and the U.S. avoids a recession.
West Texas Intermediate oil on the New York Mercantile Exchange will reach an average of $100 a barrel in 2012, based on the median of 27 analyst estimates compiled by Bloomberg, topping the all-time high of $99.75 set in 2008. The U.S. benchmark is on course to average $95 a barrel this year………………………………………..Full Article: Source


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