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Deutsche Bank Raises Brent Forecast as Libya Leads Supply Curbs

Deutsche Bank AG raised its estimate for Brent crude prices in 2014 by 9.2 percent amid supply losses in countries such as Libya and stronger-than-anticipated demand in developed nations.

Brent, used to price more than half of the world’s oil, will average $106.50 barrel this year, up from a previous forecast of $97.50 issued in January.