Goldman Sachs has lifted its H2 2024 and 2025 Brent crude oil worth forecasts larger:
- US$86/bbl and $82/bbl respectively
- from beforehand at $85 and $80
In a be aware Tuesday Goldman Sachs mentioned it expects additional moderation within the still-elevated geopolitical danger premium of $5-10 per barrel for crude oil within the coming months
- nonetheless holds a range-bound view
- sees a construct in landed crude inventories over the previous month as crude oil on water unloads on land
-
“Inventories are rising in our tracking of OECD landed stocks—a key driver of oil prices—as large prior builds of oil on water (partly as a result of Red Sea rerouting) are now unloading on land, reducing physical tightness.”
Oil worth replace:
This text was written by Eamonn Sheridan at www.forexlive.com.
