Morgan Stanley: WTI Crude to Hit $95 in '10

Financial institution Morgan Stanley believes oil prices will continue to recover this year, with West Texas Intermediate (WTI) crude pushing toward the high $90s in the near term.

" We see oil prices rising," the firm said in a statement, "as we expect fundamentals to improve through 2010." Morgan Stanley also sees declining inventories on the domestic front "as a catalyst that will lift prices to $95 a barrel by year-end."

Additionally, the firm has increased its 2011 price forecast to $100 a barrel.

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Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
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