Goldman Sachs calling for $160 oil- That’s great for Sonoro! The Wall Street bank is now forecasting Brent crude oil prices will average $140 a barrel between July and September, up from its prior call of $125 a barrel. Brent is currently trading at about $120 a barrel.
Worse, Goldman Sachs said
summer retail gas prices are going to need to spike to levels normally associated with $160 oil in order to curtail demand.
"A large spike in prices remains quite possible this summer," Goldman Sachs strategists wrote in a report to clients.