Goldman raises oil forecast, sees soar to $72 this yr for U.S. costs

Goldman Sachs is elevating its oil value forecast as three key components ought to drive costs larger: low inventories, a sluggish return to prior manufacturing ranges and speculative inflows. The agency now sees West Texas Intermediate crude hitting $72 by the third quarter, with Brent crude reaching $75. Goldman’s prior forecast had Brent at $65 throughout the third quarter.