PremiumBrent Likely To Exceed 2008 All-Time-High, Goldman Sees 'Higher Oil Prices For Longer'
The short-term views from Goldman Sachs oil research team remains that:
1) oil prices will likely continue to trend higher while Hormuz flows very remain low,
2) Brent is likely to exceed its 2008 all time high if depressed flows keep the market focused on the risk of lengthier disruptions, and
3) any rise in market perceived risks of US export restrictions is likely to widen the Brent-WTI price gap further. (denied today... for now)