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Brent May Drop To $100/Bbl In Weeks -Commerzbank

Brent May Drop To $100/Bbl In Weeks -Commerzbank
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Πεμ, 3 Νοεμβρίου 2011 - 19:01
Brent crude price may drop to $100 a barrel in the coming weeks, Commerzbank says. "We believe the current oil price level is too high given the fundamental data and the numerous risk factors," it notes.
Brent crude price may drop to $100 a barrel in the coming weeks, Commerzbank says. "We believe the current oil price level is too high given the fundamental data and the numerous risk factors," it notes.
Data published by the US Department of Energy Wednesday, showing an unexpected build up of 1.8 million barrels in US crude stocks last week, also suggests oil prices would fall, Commerzbank says. ICE December Brent up 76c at $110.10/bbl. Nymex December crude up $1.03 at $93.54/bbl.

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