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BofA cuts brent oil price estimates on China demand, U.S. crude

Posted on 30 May 2013

Bank of America Corp. cut its Brent crude price estimates amid lower-than-expected fuel demand in China and Europe and rising oil production in North America.
Brent, the benchmark for more than half the world’s oil, will trade at an average $103 a barrel in the second half of this year, according to Francisco Blanch, the bank’s head of commodities research in New York, lowering the bank’s forecast from $111. The 2014 Brent estimate was cut to $105 from $112, he wrote in a report……………………………………….Full Article: Source


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