May 27, 2011

$80 Oil By September: When Fundamentals Smack Big Banks in the Face

By EconMatters
(A Seeking Alpha exclusive)

In notes published Monday, May 23, Goldman, reversing its commodity bear call just six weeks ago, boosted its year-end target for Brent by 20% to $120 per barrel from $105 and its 2012 forecast to $140 from $120.

The inspiration for Goldman’s new-found commodity bull? Ongoing supply disruptions in Libya and the belief that firm demand in emerging markets will eat into OPEC spare capacity. So everything all of a sudden changed 180-degrees in just six weeks. Really?......Full article FREE at Seeking Alpha

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