Goldman: Oil could hit $140 a barrel this summer ...Middle East

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Goldman: Oil could hit $140 a barrel this summer
source : The Hill ( Middle East ) () 0
Goldman Sachs predicted on Monday that prices for Brent oil could hit $140 per barrel this summer, up from about $120 currently, as gas prices approach or exceed $5 a gallon throughout the United States. The firm's forecast for the third quarter of the year is already up from an earlier prediction of $125 per barrel. The report also predicted that by the fourth quarter of 2022 the price could go back down to about $130 a barrel. “We acknowledge the risks to our supply and demand forecasts given the still uncertain paths of Chinese demand and Russian exports,” Goldman Sachs said in its report.  The spike in oil prices comes as Russia continues its invasion of Ukraine and Western co

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