Shippers should not expect much respite from the recent drop in oil prices, warns Barclays Capital. It has raised its 2011 oil price forecasts to US$112 and WTI US106 a barrel for Brent Crude – both up from US$91. “We believe that the impact of the Libyan situation on the oil market is likely to become prolonged, regardless of the military outcome,” said the bank in a note to clients.
Fuel prices expected to rise – Barclays
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