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Tuesday, May 06, 2008
Goldman Expects $150-$200 Oil
FOXBusiness
Goldman Sachs said they expect a “super spike” in the price of oil over the next six to 24 months that could push oil to $150 or even $200 a barrel.
“We believe the current energy crisis may be coming to a head, as a lack of adequate supply growth is becoming apparent and resulting in needed demand rationing in the (developed nations) and in particular the United States," the bank said in a research note Monday, according to Dow Jones.
Goldman (GS) also said they are unsure how much longer the upside on the price of crude will remain.
The price of crude oil has gained more than 20% in the past five months on increased economic demand worldwide and possible market speculation.
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