Tuesday, 14 October 2008 |
updated 1 minute ago
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Goldman ups oil price forecast for '08

by This email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 19 June 2008

FORECAST UP: Goldman Sachs on Thursday raised its 2008 average Brent crude oil price forecast to $117.40 a barrel from $108 due to tight supplies.
(Getty Images)

Goldman Sachs on Thursday raised its 2008 average Brent crude oil price forecast to $117.40 a barrel from $108 due to tight supplies.

"We have increased our price forecasts to reflect a continued tightening of global crude oil supply-demand fundamentals and the resulting higher oil prices," the US investment bank said.

Goldman expected Brent crude would rise to an average $140 in 2009 and peak at $150 in 2010.

Prices would ease to an average $140 in 2011 and $85 in 2012, the bank said. (Reuters)

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