Azerbaijan, Baku, Jan. 29 / Trend A.Badalova /
The average price for U.S. WTI oil in 2011 will amount to $ 93 per barrel and average price for North Sea Brent - $ 95 per barrel, the largest U.S. bank JP Morgan's Outlook "Review and prospects for commodity markets" reads.
In December last year, the bank predicted the average price of WTI at $ 90 per barrel and for Brent - $92 per barrel in 2011.
The highest price for WTI in 2011 will occur in the fourth quarter - at $98 per barrel. In the first and second quarters, the figure is expected to hit $93 per barrel and in the third quarter - $ 88 per barrel.
In the fourth quarter, the price of Brent will reach $100 per barrel compared to $ 95 per barrel in the first and second quarters and $ 90 per barrel in the third quarter.
JP Morgan reported that in 2010, the average price for WTI was $79.6 per barrel and the average price for Brent - $80.3 per barrel.
The world oil prices increased dramatically on the backdrop of unrests in Egypt. Following the auction on Friday, Jan.28, the March futures price for WTI on the New York Mercantile Exchange rose by $3.7 - up to $89.34 per barrel. On the London Stock Exchange, the March futures price for Brent rose by $2.03 - up to $99.42 per barrel.
JP Morgan forecasts for 2011 (in $ / barrel)
|
2010 |
2011 I quarter |
2011 II quarter |
2011 III quarter |
2011 IV quarter |
|
|
Brent |
80.3 |
95 |
95 |
90 |
100 |
|
WTI |
79.6 |
93 |
93 |
88 |
98 |