Citigroup ups price forecast for metals, oil
-- Purchasing, 5/8/2008
Citigroup has boosted its price forecast for crude oil and a host of metals, citing increased investor participation in the commodity markets in the wake of a slowing economy. Citigroup said oil prices will average $96/barrel in 2008 and $88/barrel next year.
| Metal | Previous forecast | New price |
| Aluminum | $1.20/lb | $1.32/lb |
| Copper | $3.10/lb | $3.56/lb |
| Nickel | $10.50/lb | $12.50/lb |
| Zinc | $1.04/lb | $1.05/lb |
| Lead | $1.13/lb | $1.18/lb |
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