Crude prices fell Tuesday after a six-day rally as the U.S. dollar rebounded against the euro.
The International Energy Agency said Tuesday in its report that oil prices could hit 135 U.S. dollars a barrel and would average 113 dollars a barrel by 2035, compared to an average of 60 dollars in 2009.
The Paris-based group said higher prices are needed to bring demand into balance with supply.
The dollar grew stronger against the euro on Tuesday driving commodities prices lower.
Light, sweet crude for December delivery was down 34 cents, to settled at 86.72 U.S. dollars a barrel, on the New York Mercantile Exchange.
In London, Brent North Sea crude for December delivery declined 13 cents to 88.33 dollars.
The International Energy Agency said Tuesday in its report that oil prices could hit 135 U.S. dollars a barrel and would average 113 dollars a barrel by 2035, compared to an average of 60 dollars in 2009.
The Paris-based group said higher prices are needed to bring demand into balance with supply.
The dollar grew stronger against the euro on Tuesday driving commodities prices lower.
Light, sweet crude for December delivery was down 34 cents, to settled at 86.72 U.S. dollars a barrel, on the New York Mercantile Exchange.
In London, Brent North Sea crude for December delivery declined 13 cents to 88.33 dollars.
