{"id":10300,"date":"2010-03-12T15:22:38","date_gmt":"2010-03-12T14:22:38","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10300\/goldman-sachs-predicts-summer-oil-price-at-92-%e2%80%93-97-range\/"},"modified":"2010-03-12T15:22:38","modified_gmt":"2010-03-12T14:22:38","slug":"goldman-sachs-predicts-summer-oil-price-at-92-%e2%80%93-97-range","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10300\/goldman-sachs-predicts-summer-oil-price-at-92-%e2%80%93-97-range\/","title":{"rendered":"Goldman Sachs predicts summer oil price at $92 \u2013 $97 range"},"content":{"rendered":"

Falling oil inventories and a 2010 recovery in oil demand will boost crude oil prices this summer, Goldman Sachs predicted today. Goldman Sachs forecasts the crude oil prices will be trading between $92 and $97 a barrel in 3 to 6 months time. “For this time of year, OECD total petroleum inventories would need to be 100 to 150 million barrels below current estimated levels for front month to rise above second-month WTI crude oil prices,” Goldman analysts David Greely and Jeffrey Currie said in a research note. “As inventories decline and the benefits to physical oil producers, consumers, and refiners of having oil inventories on-hand begin to outweigh their costs of storing it, they will increasingly be willing to pay to hold inventories,” Goldman said. Goldman said it expected the oil futures curve to shift from contango into backwardation by the summer as oil stocks declined and the benefits to producers, consumers, and refiners of having inventories to hand began to outweigh storage costs. Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady around $80, stronger US dollar The Weekly Oil Futures Wrap at Live Oil Prices Oil prices trading down two percent on stronger US dollar Goldman Sachs bet on oil prices at $95 in 2010 Crude oil ends weeks trading higher, back near $80 Asia executives looking to $90 plus 2010 crude oil prices IEA says China oil demand increase is astonishing Oil prices unchanged amid global recovery concerns Oil trading outpaced US stock market since 2009 lows Growth story pushes oil prices higher for the week Shell’s Voser says higher crude oil prices in the future Oil prices trading steady, awaits US crude inventory data Oil prices trading steady after Thursday loss, eyes on dollar Brent oil price trading under $76 on Greece Worries Oil prices trading down two percent on latest US jobs data Ecuador’s Pinto says OPEC oil output to remain unchanged Light oil prices trading around $74, eyes on US Dollar Oil prices slip lower on new China bank reserve rules <\/p>\n

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\nGoldman Sachs predicts summer oil price at $92 \u2013 $97 range<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Falling oil inventories and a 2010 recovery in oil demand will boost crude oil prices this summer, Goldman Sachs predicted today. Goldman Sachs forecasts the crude oil prices will be trading between $92 and $97 a barrel in 3 to 6 months time. “For this time of year, OECD total petroleum inventories would need to be 100 to 150 million barrels below current estimated levels for front month to rise above second-month WTI crude oil prices,” Goldman analysts David Greely and Jeffrey Currie said in a research note. “As inventories decline and the benefits to physical oil producers, consumers, and refiners of having oil inventories on-hand begin to outweigh their costs of storing it, they will increasingly be willing to pay to hold inventories,” Goldman said. Goldman said it expected the oil futures curve to shift from contango into backwardation by the summer as oil stocks declined and the benefits to producers, consumers, and refiners of having inventories to hand began to outweigh storage costs. Light oil prices end the week well above $80 trading range Oil prices trading near 2010 highs on latest US jobs data Oil prices trading steady around $80, stronger US dollar The Weekly Oil Futures Wrap at Live Oil Prices Oil prices trading down two percent on stronger US dollar Goldman Sachs bet on oil prices at $95 in 2010 Crude oil ends weeks trading higher, back near $80 Asia executives looking to $90 plus 2010 crude oil prices IEA says China oil demand increase is astonishing Oil prices unchanged amid global recovery concerns Oil trading outpaced US stock market since 2009 lows Growth story pushes oil prices higher for the week Shell’s Voser says higher crude oil prices in the future Oil prices trading steady, awaits US crude inventory data Oil prices trading steady after Thursday loss, eyes on dollar Brent oil price trading under $76 on Greece Worries Oil prices trading down two percent on latest US jobs data Ecuador’s Pinto says OPEC oil output to remain unchanged Light oil prices trading around $74, eyes on US Dollar Oil prices slip lower on new China bank reserve rules <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10300","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/10300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=10300"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/10300\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=10300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=10300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=10300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}