Oil price hovers near $45 pb; WTI crude price forecast raised

NEW YORK, February 8 (newratings.com) – Crude oil prices declined to below the $45 per barrel mark on Tuesday morning, reaching the lowest level in one month. Meanwhile, the US Energy Department’s statistics unit, Energy Information Administration, has forecasted the West Texas Intermediate (WTI) crude oil price to average at $46.70 per barrel in 1Q04, as compared to its previous forecast of $43 per barrel.

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