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G Sachs Raises This Yr's Brent Oil Futures TP to USD85
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Goldman Sachs raised its oil price forecast for the second time in less than two weeks owing to persistent disruptions in the Strait of Hormuz and increasing structural risks to global supply. Natural gas flow in the Strait was forecast to remain at 5% of normal levels for the next six weeks, before gradually recovering over the next month. Goldman Sachs anticipated that oil prices may drift higher until the market is convinced that the likelihood of long-term supply disruptions is low. It was forecasted that the average price of Brent oil futures will reach USD110/ bbl in March to April, above the previous forecast of USD98/ bbl. Meanwhile, Goldman Sachs raised this year's Brent target price from USD77/ bbl to USD85, with the New York oil futures target price set at USD79. AASTOCKS Financial News Website: www.aastocks.com |
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