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Global Gasoline Selloff Excessive: Goldman Sachs

OIL PRODUCTS

The recent selloff in gasoline appears excessive, given that current inventories look low, Goldman Sachs said in a note reported by Bloomberg.

  • Gasoline prices are nearing prices for its feedstocks such as VLSFO and VGO, which will limit its further downside, Goldman Sachs said.
  • Goldman Sachs energy analysts Oct. 3 forecast average U.S. gasoline pump prices to sit just below the $4/gal mark in 2024 and 2025, OPIS reported.
  • In the diesel market, Goldman Sachs believes there is room to boost yields across the OECD and expects the Russian export ban to be short-lived due to domestic storage constraints.
Energy BulletsHomepageGoldman Sachs Market NewsBulletCommodities
Energy BulletsHomepageGoldman Sachs Market NewsBulletCommodities

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