U.S. expects over 20-percent drop in WTI oil prices
Azerbaijan, Baku, Sept. 10 / Trend , A.Badalova/
The U.S. State Energy Information Agency (EIA) expects the average price for WTI at $69 per barrel in the second quarter, which is a $19-barrel lower than in the second half of 2008.
The EIA September report said in the fourth quarter of 2009, the price of WTI will stand at $70 per barrel, with a $27-increase from the first quarter of 2009.
The EIA predicted an average price of WTI at $60 per barrel for 2009.
The oil prices on the world markets demonstrate a slight increase for the second day. As a result of auctions on Sept. 9 at the New York Mercantile Exchange (NYMEX), the price of a future contract on WTI for October delivery rose by $0.21 and was $71.31 per barrel. The October futures contract for Brent fell by $0.41 and was $69.83 per barrel.
The Energy Information Administration is a statistical agency of the U.S. Department of Energy and was founded by the Congress in 1977.
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