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Monday, May 9, 2011
There’s still room for more oil slides, Goldman says
There’s still room for more oil slides, Goldman says Just what everyone has been waiting for! The latest thoughts from Goldman Sachs’ energy gurus on the most recent commodity mega-slide. And don’t forget: they did predict it. First… what they think caused it: Brent crude oil prices plummeted yesterday (May 5), falling $10.39/bbl to $110.80/bbl as of the NYMEX close, extending the declines of the past three days. In our view, this sharp decline resulted from prices pushing ahead of fundamentals in recent weeks, leaving them vulnerable to a substantial correction. We believe the catalysts for the sell-off were a string of disappointing economic data releases and the DOE …
http://link.ft.com/r/5F39HH/
http://link.ft.com/r/5F39HH/
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