WTI oil trading near $106 after Goldman\u2019s surprise forecast<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" WTI oil prices open Wedneday’s trading session back near $106 a barrel after both WTI and Brent oil prices sold off yesterday, partly due to a surprise call from Goldman Sachs, calling the top of the market for crude oil and a range of other commodities, at least for the time being. Latest WTI Oil Price US Light crude oil futures for May 2011 delivery was trading at $106.56 a barrel, 07.15 GMT this morning on the NYMEX. WTI oil futures fell three percent in trading on Tuesday to settle at $106.17. Goldman Sachs Oil Price Call Goldman Sachs advised its clients to sell their investments in oil, copper, platinum and cotton, arguing that record levels of speculative trading in crude oil futures have pushed their prices up so much in recent months that in the near term, risk reward no longer favours holding those commodities. In a note to clients, Jeffrey Currie, global head of commodities strategy at Goldman Sachs, said that its decision in December to advise clients to invest in oil had been driven by an expectation of rising demand from the leading emerging market players. “While that did play out early this year in the non energy sections of the basket, it was overtaken by a supply shock driven by events in the Middle East. That has had the effect of introducing more downside risk into the trade, particularly given record levels of speculative longs in crude.” noted Jeffrey Currie at Goldman Sachs. ?? ?? ?? ?? ?? ?? ?? ?? ?? ?? ?? ?? ?? WTI crude oil opens trading over $106, will go higher WTI oil firm at $92, investors bet prices will trade higher WTI oil futures trading lower, near $108 on demand concern WTI oil trading over $111, IMF joins the peak oilers party WTI oil trading firm over $108, OPEC unable to help out WTI oil trading firm at $108, crude prices remain bullish WTI oil price trading at $108, sets a new 28 month high WTI oil price ends week trading at $108, a new 2011 high Brent oil trading at $117, up over 23 percent for Q1 of 2011 Brent crude oil hangs near $115 in thin trading volumes WTI oil trading firm over $104 amid higher US inventories WTI oil price closes week at 30 month high over $105 Brent crude trading at $115, Middle East still driving oil prices WTI oil trading at $105, China & US demand supports prices WTI oil firm at $103, traders eye Libya, Middle East supplies WTI oil trading at $103, Bahrain pushing oil prices higher Brent crude oil futures closes week at $114, Libya in focus WTI oil trading over $103 on Libya & Middle East concerns WTI oil trading firm over $98 after EIA oil inventory data WTI oil trading at $97, Japan crisis could reverse oil prices <\/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-13716","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\/13716","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=13716"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/13716\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=13716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=13716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=13716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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