Goldman Sachs (GS) has been leading the charge on how sky-high oil prices will be going sky-higher. The bank’s recent predictions of $150-200 oil in 6-24 months and $141 oil by the second half of the year were originally called reckless, but today seem pedestrian. Morgan Stanley (MS) beat Goldman to the punch on “Oil to $150 in a month!”, however, so Goldman’s Jeffrey Currie now looks like he’s playing copycat (Reuters):
“I would suggest that the likelihood of that happening sooner has increased tremendously … sometime in summer.”
To be honest, if oil hit $150 this week, we’re not sure anyone would be surprised. Which sets the table for a nice pullback…
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