With prices advancing by more than 30% since mid-June to breach $95 a barrel on Tuesday, Goldman Sachs nudged up its 12-month forecast for global benchmark Brent to $100 a barrel from $93. However, most of the rally in the vital commodity “is behind us,” the bank said in a note.
Goldman Sachs Group Inc. rejoined the $100-a-barrel oil club, raising its forecast for crude back to triple digits as worldwide demand hits unprecedented levels and OPEC+ supply curbs continue to tighten the market.
International Business: World struggling to make enough diesel gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
Diesel shortages grip global markets, with prices surging to unprecedented highs, threatening industries and transportation. Refineries struggle to meet demand amid production setbacks and reduced output from major oil-producing nations. Lingering concerns over supply persist, impacting economies worldwide.