A couple of items from GS on oil, forecasting

  • Brent at 62.50 in 3 months
  • at 67.50 in 6 months

Goldman is overall bullish on commodities

  • Oil, metals are value plays
  • end of 2018 sell offs attributable to unwinding of exuberant sentiment not so much deteriorating fundamentals
  • USD falling
  • US wages rising
  • commodity positioning is light
  • China policy support coming, scope for releveraging

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