Goldman Sees Oil Hurt by Dollar Gain, Not Gasoline Glut
- Prices to trade between $45-$50/bbl through mid-2017: Goldman
- Global crude market to have ‘modest’ deficit in 2H this year
Edward Morse: Oil Price to Rebound, Question Is Timing
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Ignore the gasoline glut, a stronger U.S. dollar presents the most risk to oil prices in the near term, according to Goldman Sachs Group Inc.
Further dollar strength on economic uncertainty outside the U.S., along with a potential interest-rate increase by the Federal Reserve could push oil prices lower, Goldman analysts including Damien Courvalin said in an e-mailed report. The gain in gasoline stockpiles is not a catalyst for further price declines because it is supply and not demand driven.