investment banks significantly lowered the expected
two oil prices have been refreshed for four months to a new low, but the two oil price spread to narrow to about $ 14. Some analysts believe that the spreads narrow because the market is expected to IEA's decision to ease the supply shortage of the European market, after the Libyan export disruption brought to Europe than the United States, resulting in the prices of Brent oil price rally strong in New York.
last week in New York crude oil prices rebounded slightly following the third consecutive day after, on Thursday suffered crash, the International Energy Agency (IEA) announced that it will release 60 million barrels of strategic oil reserves, the same day intraday New York oil prices once punctured $ 90 line World Steel Pipe News . 60 million barrels of strategic oil reserves still in the market last Friday "fermentation", in addition to the debt crisis in Europe when a spike, the euro to weaken the dollar relatively strong, in order to suppress the price of oil, caused by plate spying 90 mark again.
According to reports, the IEA released after the announcement of the crude oil reserves, the investment bank JP Morgan Chase and Goldman Sachs lowered its crude oil price forecast in the third quarter. JP Morgan Chase will be the third quarter of Brent crude oil price from $ 130 per barrel down to $ 100 a barrel world pie network information . Goldman Sachs analyst is expected that the Brent oil price in the next three months, will be located in a range of $ 105 a barrel to barrel 107.
As of last Friday's close in New York, light sweet crude for August delivery closed at $ 91.16 a barrel, the week down 2 percent. London market in August Brent crude oil futures prices closed at $ 105.12 a barrel, the week down 7.15 percent.