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 |