Home / Market Update / Commodities / Goldman: Oil could surge up to $110 by Q3

Goldman: Oil could surge up to $110 by Q3

Commodity prices, particularly crude oil, are expected to corelate will China’s reopening after Lunar New Year celebrations later in January, according to Goldman Sachs Group Inc.

“What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview on Wednesday.

“What is idled? Planes, trains and automobiles. You turn them all back on, that is going to be a big pop in oil demand”, added Currie.

Check Also

Oil Prices Edge Higher Amid Cooling Inflation and Supply Resumptions

Oil prices began the week on a positive note, bolstered by data showing cooling U.S. …