Research (Česká spořitelna)
Commodities  |  February 13, 2013 09:49:00

Upward pressure on oil prices continues, OPEC increased demand estimates this year

Continued upward pressure on oil prices after the OPEC cartel increased consumption estimate for this year. Another factor contributing to the growth of Brent is tension around Iran's nuclear program animated nuclear explosion in North Korea. Finally, the upward pressure on prices supported the general influx of money into risky assets associated with a very loose monetary policy of major central banks. The trend of the growth rates in the short term and probably will continue to achieve psychological boundaries 120 USD / brl may be a matter of days.

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