Azerbaijan, Baku, May 7 / Trend A.Badalova/
Analysts at the U.S. bank JP Morgan predict Brent average price to increase by 7.9 percent to $119 per barrel in 2012 compared to $110.9 per barrel in 2011.
According to the analysts' Global Commodities Research, in the third quarter of this year Brent price will average $120 pre barrel, in the fourth quarter - $125 per barrel.
Following the auction on May 4, the price on Brent futures for June decreased by $2.9 a barrel up to $113.18 per barrel. The cost of WTI futures for May on the New York Mercantile Exchange decreased by $4.05 percent to $98.49 per barrel.
Drop in prices last week was mainly a result of concerns over significant risks in European economy and disappointing U.S. macroeconomic statistics.
According to JP Morgan analysts' forecasts, WTI average price will increase 13.5 percent to $108 per barrel in 2012 compared to $95.13 per barrel in 2011.
The highest price for WTI in 2012, according to the forecasts, will be observed in the fourth quarter - at $115 per barrel.
JP Morgan forecasts for oil prices, 2012 (in $/bl)
|
2012 I Q. |
2012 II Q. |
2012 III Q. |
2012 IV Q. |
2012 |
|
|
Brent |
118.45 |
112 |
120 |
125 |
119 |
|
WTI |
103.03 |
102 |
113 |
115 |
108 |