Jan. 9 (Bloomberg) -- Brent oil may fall as low as $75 in 2012 as demand weakens and Middle East geopolitical tension eases, Morgan Stanley analysts said.
Prices may average $100 this year, with a high of $115 and a low of $75, analysts including Hussein Allidina said in a report dated yesterday.
“The deterioration in fundamentals should accelerate as we move into seasonally weaker demand in the months ahead,” the analysts said. “If Mideast tensions recede, the risk premium built into crude is likely to fade, sending prices lower.”
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