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Goldman Sachs said a $50/bbl price signal could help rebalance the oil market by constraining shale output or reinforcing OPEC restraint. The bank cut its 2017 WTI forecast to $52.92 and Brent to $55.39 while keeping 2018 WTI at $55.
Bank forecasts centered near $50-55 crude signal weaker energy costs and biofuel feedstock economics, which can pressure soyoil, palm oil and corn-based ethanol margins.
marketwatch.comMyra P. SaefongMay 30, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
