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Goldman Sachs expects crude prices to drop to $40 a barrel in near-term

Mar 09, 2015    

US crude prices will likely drop as far as $40 a barrel in the near-term, reversing recent gains in oil prices as global crude inventories begin to increase again, brokerage Goldman Sachs said.Oil prices rose by almost a third between January and February on the back of supply disruptions in the Middle East, strong winter demand and high refinery margins. That followed a rout that had seen price falls of around 60 percent between June 2014 and January 2015.But Goldman said that "the activity pull is sequentially weakening" and that global crude inventories would therefore rise, pushi...

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