Premium"Beginning Of The End" Goldman One-Delta Desk-Head Goes From 'Resolutely Bearish' To 'Flat'
It has been "a week of relative disappointment," according to Goldman Sachs One-Delta desk-head, Rich Privorotsky, but he sees light at the end of the tunnel (and it's not another oncoming train).
Not only has the oil market continued to push to new highs, but the nature of escalation has shifted away from the early theoretical risks around the Strait of Hormuz and infrastructure, towards actual physical E&P disruption… refineries and LNG capacity could take months/year to repair.