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.
Tags China Goldman Sachs Oil reopening
Check Also
GBP/USD Rallies as bulls aim for YTD high
During the North American session on Friday, the GBP/USD pair recovered from its losses on …