Goldman thinks you should go long on oil

Follow The Money

https://seekingalpha.com/article/4072313-goldman-thinks-go-long-oil

As pessimism sweeps over the oil market, a few prominent voices are unbowed, arguing that the market is well on its way towards balance.

Goldman Sachs’ head of commodities Jeff Currie said at an S&P Global Platts Conference in London this week that investors should probably be going long on crude oil.

Goldman predicts a rather modest inventory build of just 6 million barrels (crude oil and refined products) across the U.S., Europe, Japan and Singapore between March and April.

As pessimism sweeps over the oil market, a few prominent voices are unbowed, arguing that the market is well on its way towards balance.

Goldman Sachs’ head of commodities Jeff Currie said at an S&P Global Platts Conference in London this week that investors should probably be going long on crude oil because the market is already in a supply deficit. He pointed to the futures market, where the…

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