Goldman Sachs Sees Long Term Spike in Oil Prices

Financial Times: “Goldman Sachs energy analysts have been notably more optimistic than many of their Wall Street rivals lately. No longer. Judging by a note that the investment bank pushed out yesterday, they’re now throwing in the towel.”

“The main reasons are that Goldman now expects a much longer and more severe disruption to oil exports through the Strait of Hormuz, and that a subsequent rebuild of strategic reserves in many developed countries will bake a ‘security premium’ into longer-term oil prices. ”