Barclays expects rising trend in oil prices, in $100-130 range

Friday, 12 August 2011 00:01 - - {{hitsCtrl.values.hits}}

REUTERS: Barclays Capital said it expects oil prices to be on a rising trend from $100-130 a barrel over the next 12 months as the current risk-off trade subsides, even with potentially slower economic recovery in OECD countries.

"Although the sovereign crisis and associated risk-off trade have hit energy markets, we do not see sharply weaker energy fundamentals," Barclays said in a research note on Thursday.