oil prices

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.

At the same time, global oil demand is back to converging to pre-COVID levels. Traffic congestion in China quickly recovered after a summer dip. The Delta-driven decline in global flights was smaller than the analysts initially feared.

Brent crude futures BRN00, +1.27% rose 1% to $78.12 per barrel, and the West Texas Intermediate contract CL.1, +1.24% added 1% to $74.79…

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