Oil - Goldman Sachs says Brent crude has scope to rise above US$70 in the near term

Author: Eamonn Sheridan | Category: News

Goldman Sachs noting that their forecast of $67.50 was hit 3 months early, gives them confidence 70 is on the horizon

Further cite:
  • Supply losses exceeding our expectations
  • Growth in demand growth is beating low consensus expectation
  • Technicals supportive
  • Net long positioning still depressed

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