Brent crude oiln price forecast, reflect the cut in Libyan oil supplies, the raised risk premium and better demand growth in early 2011

Brent crude oiln price forecast, reflect the cut in Libyan oil supplies, the raised risk premium and better demand growth in early 2011 ; Swiss bank UBS (UBSN.VX) raised its 2011 Brent crude price forecast on Wednesday to $103.75 a barrel from $85 to reflect the cut in Libyan oil supplies, the raised risk premium and better demand growth in early 2011.

The bank also raised its long-term Brent crude LCOc1 forecast to $95 a barrel also from $85 a barrel.

"Our assumption is that the current situation lasts for a further quarter, but increased sensitivity around geopolitical risk to supply means a higher long-term price is also appropriate, we believe," UBS analysts said in a note.

They said it was too early to make a definitive call on the long-term effects of Japan's unfolding nuclear crisis on oil prices, but noted its Brent forecast was below the current forward curve. For the latest updates PRESS CTR + D or visit Stock Market news Today

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