OP: Oil prices plunge as China locks down Shenzen
OilPrice.com reports: – Oil fell back below $110 on a surge in COVID cases across China. – ...
MarketWatch reports:
Goldman Sachs has boosted its oil price target to $90, citing the lingering impact of Hurricane Ida on supply while demand ramps up, particularly in COVID-averse Asia.
Analysts led by Damien Courvalin lifted their year-end forecast on Brent crude-oil to $90 from $80.
Hurricane Ida should prove to be the most bullish hurricane in U.S. history, cancelling the ramp-up in OPEC+ output since July.
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