Oil prices will rally ‘sooner and higher.’ Expect $75 Brent crude this year, says Goldman Sachs

How much higher can oil prices climb this year? Try $75 a barrel.



Oil hits highest level in over a year with demand expected to recover as COVID-19 vaccine expands

Oil hits highest level in more than a year with demand expected to recover as COVID-19 vaccine expands
• WTI Crude and Brent oil surged 2% on Monday to hit their highest levels in more than a year.
• The recovery in oil prices has been driven by an expected boost in demand as COVID-19 vaccines allow the economy to open up and enable more traveling among consumers.
• Oil supply has also tightened in recent weeks as Saudi Arabia cut its production levels.



Oil finishes at 1-year high after modest weekly decline in U.S. crude inventories

Oil futures climbed on Wednesday to end at another one-year high, finding support from expectations that economic stimulus measures will boost energy demand and a modest weekly decline in U.S. crude inventories.



Biden Drilling Ban Leaves Majority of U.S. Production Untouched

• U.S. may lose up to 200,000 barrels a day out of 11 million
• Rystad analyst doesn’t see short-term price impact from ban



Goldman Turns Bullish On Oil: Sees $65 Brent In 2021

Structural underinvestment in oil and gas will put upward pressure on oil prices, Goldman Sachs’ commodities chief Jeffrey Currie told CNBC this week, commenting on commodity markets.

All markets except wheat, Currie noted, are in a deficit, and this is certainly bullish for prices. But what he calls structural underinvestment also has its part to play for the future of prices. This is particularly true for oil, where the underinvestment is not just motivated by the price rout but by the shift towards renewable energy investments.



The Wall Street Journal - Natural Gas Prices Leap to 19 Month High

Natural-gas prices rose to their highest level in more than a year and a half on Monday, extending a recent rally with traders preparing for colder temperatures and assessing the impact of weather-related supply disruptions.

Natural-gas futures for November delivery advanced 5.1% to $2.881 a million British thermal units, recording their highest close since March 2019. Prices have rallied about 14% so far this month and are up roughly 60% in the past three months, with recent gains coming ahead of the winter heating season.

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