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Goldman Lift Near Term Price Target On russia Developments

OIL

Goldman Sachs note that "the range of near-term price outcomes for commodities has become extreme, given the concern of further military escalation, energy sanctions or potential for a cease-fire. In the very short-term, we see risks skewed to significant further upside and are raising our 1-month Brent price forecast to $115/bbl (from $95/bbl previously), with significant upside risks on further escalation or longer disruption. Importantly, even if near-term price volatility reaches unprecedented levels, our longer-term bullish under-investment thesis is very much intact and reinforced by these events."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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