Average oil price $ 77.50 a barrel in 2010

A survey conducted by the Reuters news agency showed that the average crude oil price is expected rise to 77.50 U.S. dollars per barrel in 2010, but analysts said high inventories will keep prices within a limited range to be improved demand in the third quarter of the year. The survey of 29 analysts showed an increase in the average expected price for the ninth month in a row. The average forecast for 2010 in April to $ 65.95 a barrel. Harry Celinjoran, senior commodities analyst at PNV Paribas, said on Monday, "In the short term, there is still a great deal of uncertainty about the level at which the price has been settled." He added,"It is likely oil prices traded within a large scale over the three to six months, probably in the next 65 to $ 85 a barrel is bounded on the top of weakening fundamentals, but remains above the level supported by theoretical basic conditions and by the continued abundance of liquidity." It is expected that the average price of U.S. crude to reach $ 75.20 in the first quarter of 2010, up from 73.70 dollars in the previous poll, which also predicted an average of $ 74.90 for the fourth quarter of 2009. Crude prices rose to 83.95 U.S. dollars in January, boosted by a long period of temperatures below the rates in the northern hemisphere and strong economic growth in China, second largest energy consumer in the world. The latest poll expected U.S. crude price to average at $ 77.50 a barrel in 2010 as a whole, compared with forecasts for an average of 76.40 dollars in a survey last December.m.e