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Wall Street's new oil bull, Credit Suisse sees 2013 surge
http://www.reuters.com/article/2012/04/13/us-oil-bull-creditsuisse-idUSBRE83C1FA20120413

By David Sheppard and Jeffrey Kerr

Fri Apr 13, 2012 4:46pm EDT

(Reuters) - There's a new oil bull on Wall Street.

Credit Suisse has boosted its 2013 forecast for Brent crude to levels just $15 shy of record peaks, topping other banks like Goldman Sachs and Barclays that had been seen as the most aggressive on the street.

As consumer nations fret about the impact of rising fuel costs on the economy, Jan Stuart, Credit Suisse's head of energy research, predicts the pain could get worse. Demand is proving resilient in the face of high oil prices while supply growth outside of North America has been disappointing.

The bank hiked its Brent forecast by 15 percent to $132.50 a barrel for Brent in 2013, about $12 higher than current levels and within striking distance of record highs over $147 a barrel tipped in 2008, when the economic recession was deepening.