“Anyone remember that rapid succession of brent downgrades by Goldman last month which did nothing until the CME and the administration launched an all out war on speculators a relentless barage of crude margin hikes? Well, uber momo Goldman sure doesn’t. Just out from David Greely: “While near-term downside risk remains as the oil market negotiates the slowdown in the pace of world economic growth, we believe that the market will continue to tighten to critical levels by 2012, pushing oil prices substantially higher to restrain demand. Events in the Middle East and North Africa are having a persistent impact, which leads us to increase our oil price targets We expect that the ongoing loss of Libyan production and disappointing non-OPEC production will continue to tighten the oil market to critically tight levels in early 2012, with rising industry cost pressures likely to be felt this year. We are now embedding in our forecasts that Libyan production losses will lead to the effective exhaustion of OPEC spare capacity by early 2012. Consequently, we are raising our Brent crude oil price forecast to $115/bbl, $120/bbl, and $130/bbl on a 3, 6, and 12 month horizon.” Welcome back volatility. CME petroleum product margin reduction in 5…4…3…”
If you enjoy the content at iBankCoin, please follow us on TwitterRelated Articles
Don’t Do The Crime Unless You Can Pay the Fine
August 7, 2014
State of the Union: Hopes are Dashed
August 6, 2014
1 in 3 Americans are in Financial Ruin
July 29, 2014
Wow, reading this, I thought to myself, “This sounds like a lot like…” And then I read the last line and didn’t even have to click the link to know who it was.
Can’t spell my own name!
Nice. Coincidental the dollar is hitting new resistance. If Dollar turn back down and continues downturn oil will go higher. Higher oil and volcanos in Island will make airplines a good short.
boy GS pisses me off.
those son of a guns,