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Crude price forecasts climb

04/04/2011
by Sam Fletcher, Senior WriterBarclays Capital in London expects oil prices to average $106/bbl for West Texas Intermediate and $112/bbl for North Sea Brent this year, up from a December forecast of $91/bbl each, and climb to $185/bbl and $184/bbl, respectively, in 2020."We expect a sharp compression in the WTI-Brent spread as the year progresses, with the spread remaining prone to dislocation but normally tending towards a small WTI premium," said Paul Horsnell, Barclays Capital managing director and head of commodities research.The bank maintained its 2012 forecast of $105/bbl for both Brent and WTI since it already allowed for "a large degree of geopolitical movements, p...
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