Improving supply and demand fundamentals have prompted Credit Suisse to raise its short and long-term forecasts for oil prices, expecting the average Brent price at $70 a barrel this year, up from $66.50 projected earlier. According to a Credit Suisse note cited by Forexlive , the price of Brent is set to average $69 per barrel next year, up from $68 a barrel the bank had previously expected. The long-term forecast for Brent Crude was also raised—to $62 a barrel from $60 per barrel. Credit Suisse also revised up its forecasts for the U.S. benchmark, WTI Crude, to an average of $67 a barrel this year, up from $62 per barrel in its previous estimate. Next year, WTI prices are set to average $66 per barrel, up from $63 a barrel expected earlier, according to the Swiss bank. In the long term, WTI Crude prices will average $59 a […]