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.