Wednesday, October 20, 2010

Goldman Sachs (NYSE:GS) Sees Oil Prices Rising on Weak Dollar, Higher Demand

While oil prices could continue trading between $70 to $80 a barrel for the remainder of 2010, Goldman Sachs (NYSE:GS) sees oil prices rising to the $100 a barrel range by the end of 2011.

Reasons cited were the weakening U.S. dollar and stronger oil demand that originally believed.

One thing that could hinder that assertion would be the recession continuing on into 2011, which could decrease demand levels, along with oil prices.

An analyst at Goldman believes the $100 a barrel mark could be reached sooner rather than later.

If the economy actually begins to improve, existing constraints could be removed and oil prices begin to surge.

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