Commentary from Goldman Sachs on the oil market
Says that there are concerns that drivers of higher oil prices from September to last week are "unlikely to be sustainable".
The drivers include healthy global demand, voluntary/involuntary supply disruptions, and US producer discipline.
Earlier last month, they released a note saying that there are some upside risks to their oil forecasts back in December - but I'm guessing they won't be as worried about that after the recent decline over the past week.
Brent and WTI crude may be up by 1.00% and 1.28% respectively on the day, but they have fallen quite a bit over the past week - alongside equities. WTI is now trading under $60 per barrel - now at $59.94.
