Azerbaijan, Baku, July 21 / Trend A.Badalova /
Analysts at Capital Economics expect a fall in the oil prices to $60 per barrel in 2010. Based on the analysts, oil prices will remain at the same level in 2011 and 2012.
Oil prices show a positive momentum since the beginning of the week mainly due to the positive macroeconomic data.
As a result of trading July20, August futures price for WTI rose by $0.9 to $77.44 per barrel on the New York Mercantile Exchange. On the London Stock Exchange, September futures price for Brent increased by $0.6 to $76.22 per barrel.
British analysts predict the price for Brent at $70 per barrel in the third quarter. Analysts expect the price on the oil to fell to $60 per barrel in the fourth quarter.
Analysts link the fall in oil prices with expectations of slowing world economic recovery in 2010-2012.
Capital Economics' analysts forecast that the global economy will grow by 4.5 percent in 2010, after which its growth will slow to 3.5 percent in 2011 and 2012.
However, American analysts expect a growth on oil prices in late 2010 and 2011.
Analysts at American JP Morgan predict WTI prices at an average of $81.73 per barrel and $82.19 per barrel for Brent in 2010. Average prices on WTI will reach $90 per barrel and $92 per barrel on Brent in 2011.
The U.S. Energy Information Administration forecast prices on WTI as reaching $79 per barrel in 2010 and $83 per barrel in 2011. EIA expects prices on the oil to reach $84 per barrel by late 2011.
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