May 16 -- Goldman Sachs Group Inc., the world's biggest securities firm by market value, revised higher its New York crude-oil price forecast for the second half of this year by 32 percent, citing supply constraints.
Goldman now forecasts West Texas Intermediate, the benchmark crude grade traded in New York, will average $141 a barrel in the second half of the year, up from its previous forecast of $107. Prices will rise further in 2009, averaging $148 a barrel, the bank said.
``Supply constraints and a lack of scaleable substitutes are set to continue driving the long end of the oil curve higher,''
me: if they are correct on $141 in 2008, then $148 for 2009 is too low. my favorites, although any energy companies will do:
finance.yahoo.com |
