Goldman Sachs: Forecasts fourth quarter oil prices to reach $80 per barrel

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According to a report by Golden Finance on June 30, Goldman Sachs’ commodities team predicted that oil prices will reach $80 per barrel in the fourth quarter of this year, slightly above pre-war levels. It also expects that, due to damage to facilities in the Gulf region and Russia, refining margins will remain high. In addition, the Federal Reserve has released a more hawkish signal, and Goldman Sachs expects this to support a rebound in the U.S. dollar exchange rate to near the highs seen in March. It currently believes that inflation in most parts of Asia remains under control, because the energy price shock has been more concentrated and short-lived than during 2021 to 2022, and impacts are being buffered by countries through inventory and fiscal policies. It expects that technology spending will still be the core driving factor for multiple Asian economies and markets.
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