Goldman Now Sees Oil Hitting $140 This Summer ...Middle East

Goldman Sachs this week raised its price target for Brent crude to $140 per barrel from $125 per barrel, citing unresolved structural shortages. Per a ZeroHedge report, the investment bank's commodity head of energy research, Damien Courvalin, noted the brief period of balance in oil earlier this year, when China locked down several cities, the relatively insignificant reduction in Russian exports and the record drawdowns from strategic petroleum reserves. After that brief period of balance, however, is ending already, the analyst also noted in…

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