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June 04, 2009

Goldman Forecast: Oil to $85 By Year's End

Nearing on $70 now.

rude oil rose to a seven-month high after Goldman Sachs said prices may reach $85 by the end of the year as demand recovers and supplies shrink.
Oil climbed more than 5% after the bank increased its year-end forecast from $65 a barrel and withdrew its prediction that prices will dip prior to a rally.

"As the financial crisis eases, an energy shortage lies ahead," Goldman analysts Jeffrey Currie in London and David Greely in New York wrote in a research report e-mailed today. The bank set a 12-month price target of $90 a barrel, up from $70, and introduced a forecast of $95 for the end of 2010.

So, even if there is a recovery, it's strangled in the crib for want of oxygen.

And Obama and the Democrats will continue blocking any and all expansion of real energy production.

posted by Ace at 04:12 PM

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"As the financial crisis eases, an energy shortage lies ahead," Goldman analysts Jeffrey Currie in London and David Greely in New York wrote in a research report e-mailed today. The bank set a 12-month price target of $90 a barrel, up from $70, and introduced a forecast of $95 for the end of 2010. So, even if there is a recovery, it's strangled in the crib for want of oxygen. And Obama and the Democrats will continue blocking any and all expansion of real energy production. posted by Ace at 04:12 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments [/i][/b]andycanuck (hovnC)[/s][/u]: "Maral Salmassi @MaralSalmassi Despite claims made ..." jimmymcnulty: "Are Australian pizzas served upside down. Asking ..." Viggo Tarasov: "Hey, that tweezer thing can really pluck someone u ..." Eromero: "322 German police valiantly confiscating a Swiss A ..." 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