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Why Goldman Sachs Thinks Oil Should Be Trading Higher

OilPrice.com Monday, 22 July 2019
Fears of weak oil demand are taking over the market, overshadowing tanker battles in the Persian Gulf, something that would have typically sent oil prices skyrocketing. However, demand may also rebound in the second half of this year, offering some upside to oil prices. Demand only grew at a 0.95 million-barrel-per-day (mb/d) rate in the first half of 2019, according to Goldman Sachs, which the investment bank admitted was 0.4 mb/d lower than its estimate at the start of the year. It’s also the weakest start to any year since 2011. “Despite…
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News video: Jim Cramer: Here's What It's Going to Take to Make Oil Investable

Jim Cramer: Here's What It's Going to Take to Make Oil Investable 01:00

So, what's going on with oil? In case you're not up to date, there are increased tensions in the Middle East, which spiked oil prices higher after Britain demanded that Iran release the Stena Impero--a British-flagged tanker--and its crew, saying that the seizure of the tanker in the Strait of Hormuz...

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