Goldman Sachs Reiterates $149 Price Target on Crude
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Today, Goldman Sachs reiterated their $149 year-end price target for crude oil, saying strong fundamentals for oil are more important than a strengthening dollar.
The Goldman analyst said, "there is more to oil than the U.S. dollar and vice versa." The firm cited limited oil stocks, a possible recovery in U.S. oil demand, 10% growth in China and a drop in non-OPEC production.
Crude is up $1.30 today to $115.83 per barrel on NYMEX.
The Goldman analyst said, "there is more to oil than the U.S. dollar and vice versa." The firm cited limited oil stocks, a possible recovery in U.S. oil demand, 10% growth in China and a drop in non-OPEC production.
Crude is up $1.30 today to $115.83 per barrel on NYMEX.
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