Business & Economy

Oil prices surprise expectations

Oil prices fell today, Friday, after they rose this week to record levels not seen in 7 years, and the decline came in light of an increase in crude and fuel stocks in the United States.
US West Texas Intermediate crude futures fell 2.2% to $83.67 a barrel.
Meanwhile, Brent crude futures fell 1.89% to $86.71 a barrel, according to Bloomberg website data.
Despite the drop in prices, analysts at investment bank “Morgan Stanley” expect the price of “Brent” oil to rise to $100 a barrel by the third quarter of this year.

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