Oil Prices Give Back Some Gains After Rally on Libyan Production Halts
Goldman Cuts Oil Outlook Below US$80 as Opec+ Risks Send Chill
International oil prices continue to fall? Goldman Sachs and Deutsche Bank both lower their expectations.
①With the increase in global oil supply, Goldman Sachs and Morgan Stanley recently lowered their oil price forecasts. ②Both companies expect a global crude oil market surplus, with oil prices expected to decline over the next 12 months.
The oil price decline shows no signs of stopping? The OPEC+ decision is crucial, with Goldman Sachs and Morgan Stanley both bearish until 2025.
Wall Street is concerned about the crude oil product outlook for next year, with Goldman Sachs and Morgan Stanley both lowering price forecasts due to the global increase in supply.
Crude Oil Pops More Than 3% as Halt of Libyan Barrels 'Cannot Be Easily Replaced'
Overnight US stocks | The three major indexes rise and fall differently, the Dow hits a new historical high, and the tense situation in the Middle East helps crude oil surge by more than 3%.
At the close, the Dow Jones Industrial Average rose 65.44 points, or 0.16%, to 41,240.52; the Nasdaq Composite fell 152.03 points, or 0.85%, to 17,725.77; the S&P 500 Index fell 17.77 points, or 0.32%, to 5,616.84.
Powdahound : Thank you for sharing
151453268 witso : Does DT stand for doomsday theorist as applied to markets and trade historically boosting gold explored, mined, and physically held as a wealth protection strategy. The ducks are lining up Crowdstrike today a perfect example how fragile tech can be,and the degree of damage it can cause. Some protection is not a bad thing with gold . Agree totally with your assessment and have positioned accordingly
Dr DT OP 151453268 witso : Gold had a down day on Friday. We just need to be a bit patient. No need to worry as this should be a long term hold. FYI, NEM, world biggest gold mining company, will reports its Q2 earnings next week on July 24. Expect a blow off top earning report. Majority of gold mining companies will report in August and most established well managed miner companies would have robust earnings. Any drops is opportunities to pick up more shares. Be ready for a nice ride up by end of month into next month. Cheers.
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