Goldman Sees High Probability That OPEC Extends Agreement
Alert: HALISTER
Source: BFW (Bloomberg First Word)
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GS US (Goldman Sachs Group Inc/The)
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Jeffrey Currie (Goldman Sachs & Co)
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UUID: 7947283
(Bloomberg) -- Oil price appreciation must come from front-end, Goldman Sachs Head of Commodity Research Jeffrey Currie says on Bloomberg TV.
- Downside risk for WTI $3-$5/bbl if no OPEC deal, upside trading range $55-$60/bbl if deal extension
- $57.50/bbl base case for WTI, $59/bbl base for Brent
- Goldman sees rising demand for oil outside U.S
- Sees carry as the route to drive returns on oil
- Oil price determined by cost to produce from shale
- Positive backwardation developing on crude oil
- Trump tax details may trigger gold sell-off
- Low potential for border adjustment tax
- Border adjustment tax would make dollar stronger
- Sees China’s raw steel demand rising
Alert: HALISTER
Source: BFW (Bloomberg First Word)
Tickers
GS US (Goldman Sachs Group Inc/The)
People
Jeffrey Currie (Goldman Sachs & Co)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283