Goldman Sees Limited Upside for Oil Prices Despite Rising Geopolitical Risk ...Middle East

Goldman Sachs analysts have brushed off the latest events between Iran and Israel as a bullish factor for oil prices, citing potential hedging by producers. “Our commodities strategists do not expect substantial further upside to oil prices,” the bank said, as quoted by FXStreet, adding that “Hedge funds continued selling US Energy stocks for the 3rd straight week, and the sector has now been net sold in 5 of the last 6 weeks.” One potential reason for this selling streak may be the strong performance of these energy…

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