(MarketWatch) Goldman Sachs strategists expect oil to hit $90, a higher projection from the previous $80 on supply issues caused by Hurricane Ida.
Predictions by Goldman come as oil demand returns to pre-pandemic levels, with China’s imports recovering from the summer plunge.
The fears over Delta variant on oil demand have since subsided, with the fall in global flights less than previously projected.
Goldman sees Hurricane Ida as the most bullish in US history. Natural gas futures are also expected to continue soaring as the winter heating season approaches.
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