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Barclays cuts 2013 oil price forecast as supply risks fade

Posted on 04 April 2013

Barclays Plc (BARC), until now this year’s most bullish of 44 oil-price forecasters, cut its predictions for Brent and WTI crude, citing fewer supply threats. West Texas Intermediate crude will average $95 a barrel this year, compared with a previous estimate of $108, Barclays said in an e-mailed report.
Brent, the benchmark grade for more than half the world’s oil, will average $112 a barrel, down from $125, the highest of all analyst forecasts compiled by Bloomberg before today. Brent traded at about $108.41 a barrel on the ICE Futures Europe exchange at 4:50 p.m. in London, while WTI was at $95.42 on the New York Mercantile Exchange………………………………………..Full Article: Source


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