British analysts expect oil prices at $105 per barrel this year
Leading analysts of the British economic research and consulting company Capital Economics predict the average price for Brent at $105 per barrel in 2012.
According to the analysts' forecasts reflected in Capital Economics Global Economic Outlook, Brent price will fall further to average $85 per barrel in 2013 and remain at this level in 2014.
The oil prices predictions are partly connected with the analysts' expectation on the fragile global economic growth.
"We expect the combination of fiscal austerity, a recession in the euro-zone and a structural slowdown in key emerging economies to lead to even lower growth next year, before a modest recovery in 2014," analysts' report said.
Following the auction on October 29, the price on Brent futures for August decreased by 0.1 percent to $109.5 per barrel. The cost of WTI futures for August on the New York Mercantile Exchange decreased by 1 percent and stood at $86 per barrel.
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