Azerbaijan, Baku, Jan. 6 / Trend A.Badalova /
The U.S. bank Morgan Stanley predicts growth in world oil prices in late 2010 compared to current levels. In particular, the price of U. S. WTI crude oil will hit $ 85 per barrel, the bank's analysts reported.
However, the bank's analysts do not rule out the lower price risk.
"The macroeconomic environment receives is less supported, pointing to the probability of short-term weakening," the bank's report says.
Based on the bank's analysts, in the first quarter of 2010 will be a sharp growth in oil prices compared to the same period of 2009. First the price will reach a peak of 70 percent and then in the second quarter of the year will fall to 20-30 percent.
In the first quarter of 2009, world oil prices traded at $40-50 per barrel.
Today, oil prices on world markets almost reached its maximum for the past 14 months on the background of a strong cooling in the U.S. Rapid economic growth in China was also named as one of the reasons of price hike. Oil dispute between Russia and Belarus due to lack of a new contract for the oil transit became the final factor that influenced the price hike.
As a result of trades on Monday Jan.4, price for February's futures for North Sea oil brand Brent rose by $2.19 to $80.12 per barrel at the London Stock Exchange. Price for February's futures on the U.S. crude oil WTI rose by $2.15 to $81.51 per barrel at the New York Mercantile Exchange.
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