Tuesday, December 15, 2009

Brent Crude, U.S. Gas Price Forecasts for 2010 Raised by SocGen

(Bloomberg) -- Brent crude oil and U.S. natural gas prices will rise next year as money flows into the commodity markets and temperatures fall, according to Societe Generale. Brent will rise to $88 a barrel in 2010 assisted by a “gradual recovery in demand,” while gas prices will climb to $6.65 a million British thermal units, analysts including Frederic Lasserre said in a note to investors.Brent for January delivery traded at $71.92 a barrel as of 10:09 a.m. in London, down 11 percent from a high of $81 in October. U.S. gas has declined 28 percent this year to trade at $5.33 a million BTUs as of 10:06 a.m. in London.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4eO7TOfFi.c

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