Azerbaijan, Baku, Aug. 6 / Trend A. Badalova /
As of the third quarter of 2011, Brent North Sea oil price will hit $ 100 per barrel, Capital Economics predicts.
At present, this sort of oil is over $107 per barrel.
According to British analysts, oil prices on world markets will show a declining trend by late 2011.
According to the analysts, Brent average price will reduce up to $ 85 by late 2011 and remain at that level in 2012 and 2013.
"We continue expecting a sharp drop in oil prices amid weakening the demand and falling risk premiums as a result of unrest in the Middle East," Capital Economics's report said.
According to the analysts' expectations, the prices in other commodity markets, particularly, in the market of industrial metals, will also fall amid the expectations of weak global economic growth.
Oil prices on world markets fell significantly as a result of concerns about slowing U.S. economy.
As of the trades on August 4, the U.S. light crude oil WTI price on the New York Mercantile Exchange reduced by $5.3 up to $86.63 per barrel. Brent price reduced by $5.98 up to 107.25 per barrel on the London Stock Exchange.