The investment bank Goldman Sachs raised quite a few eyebrows last year when it mooted the possibility of a "super-spike" that could take oil prices to as high as $105 a barrel.
"We believe oil markets may have entered the early stages of what we have referred to as a 'super spike' period - a multi-year trading band of oil prices high enough to meaningfully reduce energy consumption and recreate a spare capacity cushion only after which will lower energy prices return,'' Goldman's analysts wrote in a now famous report.
We're not quite there yet, but that $100 barrier does not seem such an outlandish figure. Oil prices today raced past $78 a barrel setting record levels for the second day running. Analysts now see prices of $80 a barrel as a distinct possibility.
No comments:
Post a Comment