Brent oil: Transient risks are to the upside in near-term - Goldman Sachs

Analysts at the US investment banking giant, Goldman Sachs, offer a bullish outlook on Brent oil in the near-term, upping its oil-price forecast.

Key Quotes:

“Transient risks to the upside.

Prior forecast of $66/barrel (Brent) raised to $74-$76.

After Q3, Permian basin de-bottleneck should improve supply.

Looking for demand to improve.

A demand-led move higher in the face of current high skepticism toward accelerating economic activity.

Volatility created by Iran-U.S. tensions.

Nonetheless, the coming weeks may be the first window for this support to play out as the economic data calendar moves to its window of greater relevance and influences on risky assets, including oil.”