Washington – The World Bank is nudging up its 2015 forecast for crude oil prices from 53 dollars in April to 57 dollars per barrel after oil prices rose 17 per cent in the April to June quarter.
The forecast is contained in the bank’s latest Commodity Markets Outlook released on Wednesday.
The bank said energy prices rose 12 per cent in the quarter, with the surge in oil offset by declines in natural gas and coal prices.
However, it said it expected energy prices to average 39 per cent below 2014 level.
“Natural gas prices are projected to decline across all three main markets including the United States, Europe and Asia.
Continue reading World Bank raises forecast for 2015 global crude prices