Goldman Sachs expects volatile oil market, prices between $70 and $80 per barrel | Reuters

Goldman Sachs expects volatile oil market, prices between $70 and $80 per barrel | Reuters:

Investment bank Goldman Sachs expects volatile oil prices in the short-term on the back of uncertainty over possible disruptions to supply, with benchmark Brent crude in a $70-80 per barrel range.

Oil prices have declined sharply the past week as the Sino-U.S. trade war intensifies and were hovering below $72 per barrel on Tuesday, not far from their lowest since mid-April. [O/R] 


“Production disruptions and large supply shifts driven by U.S. political decisions are the drivers of this new fundamental volatility, with demand remaining robust so far,” the bank said in a note dated Monday.