UBS

UBS sees oil price at the level $82 per barrel in 2012

Commodity analyst:

UBS, Nov 2007

Oil price factors:

- decline of oil supply in non OPEC countries,
- decrease in spare capacity

UBS forecasts gold price at $760 in 2008 and $700 in 2009

Commodity analyst:

UBS, Oct 2007

Gold price factors:

- US sub-prime crisis,
- weak US dollar

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Commodity Forecast