Careful of soaring oil prices? Goldman Sachs warns: the oil market is completely unprepared for escalation in the Middle East conflict.
Goldman Sachs analyst Lindsay Matcham stated that further escalation of the conflict may have a significant impact on the market, especially if the conflict involves the potential closure of the Strait of Hormuz, which could likely lead to a surge in local oil prices; Goldman Sachs analyst Lina Thomas, in another report, highlighted four short-term positive drivers in the crude oil market - mentioning the Middle East trend.
U.S. Drilling Rigs Edge Lower for Sixth Time in Seven Weeks, Baker Hughes Says
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Crude Inventory Fell 4.5M Barrels for Week Ended Sep 20 - EIA
Negotiations to restart the crisis at the Central Bank of Libya, recent warming in oil prices may return to a downward trend.
The competitors of this OPEC country's government have differences regarding the central bank governor issue; the stalemate has led to a significant decrease in crude oil production, triggering a tense mediation.
Oil: The End of an Era – Rabobank
OPEC is highly bullish on long-term oil demand, while the IEA sings a different tune.
OPEC is highly bullish on long-term oil demand growth. Not everyone agrees.
Peak Oil Demand Not on the Horizon, OPEC Says in Outlook to 2050
OPEC's 2024 global oil outlook: bullish on the oil market prospects, no demand peak in the short term.
①OPEC believes that some countries and companies may resist overly aggressive clean energy goals, in addition, some global auto manufacturers have also adjusted their electrification goals, reducing investment in electric vehicles; ②OPEC expects global oil demand to reach 0.1189 billion barrels per day by 2045.
Peak Oil Demand Isn't on the Horizon, OPEC Says
Escalation in the Middle East Conflict Pushes up Oil Prices – Commerzbank
Global interest rate cuts combined with escalating geopolitical conflicts, oil prices rebounding from a three-year low.
Some analysts believe that as the impact of interest rate cuts wanes, the oil market may refocus on the issue of weak demand, leading to crude oil prices facing downward pressure again.
Crude Oil Prices Jump Following China Stimulus Announcement, Middle East Tensions
Oil Prices Stall Amid Mixed Business Activity Readings
Oil Posts Best Week in Six but China Concerns Aren't Going Away
U.S. Drilling Rigs Down for Fifth Time in Six Weeks, Baker Hughes Says
gtja: With the fall in oil prices and the rebound in freight rates, seize the opportunity for a contrarian layout.
It is expected that the supply and demand will continue to improve in the coming years, and the prosperity of oil transportation will exceed expectations. It is suggested to lower the peak season game and strategically invest in options for the super bull market in oil transportation.
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Oil Prices Rise After U.S. Interest-Rate Cut Amid Heightened Middle East Tension