Goldman Reiterates $64 Oil Price Forecast

Goldman Sachs has maintained its oil price forecast for Brent crude, seeing the benchmark averaging $64 over the fourth quarter of the year despite recent developments that have pushed both Brent and West Texas Intermediate higher. “Increasing pressure on Russia and Iran sanctioned oil supply poses an upside risk to our price forecast, especially given the faster-than-expected normalization in spare capacity,” Goldman analysts said in acknowledgment of these developments, as quoted by Reuters. President Trump last week threatened importers…