Goldman Does It Again: Crude Crashes 11% After "Most Bullish In A Decade" Call

In 2008, as oil prices were spiking higher, Goldman infamously suggested a "super spike" in crude to $200 per barrel was coming. That ended up signaling the beginning of a collapse in crude prices that nearly bankrupted the world's oil producers and remains a massive problem for many nations (cough Venezuela cough).

Did they just do it again?

Goldman just issued their "most bullish in a decade" call on Brent Crude, calling for $82.

Things are not working out so well...

Muppet'd!

Comments

MK ULTRA Alpha gatorengineer Fri, 02/09/2018 - 15:48 Permalink

The world is in a great battle for global crude oil market share. Green energy initiatives, solar, wind, electric cars, and US based natural gas have caused US crude oil demand growth to stall.

US crude oil production rates growing to 14 million barrels per day from the record breaking 10.25 million barrels per day will fundamentally change the US economy for a generation.

US crude oil record breaking production is a bigger story than being reported.

In reply to by gatorengineer

Iconoclast421 Fri, 02/09/2018 - 14:32 Permalink

I bought 20 grand worth of SPY 260 calls when SPY was at 254 a short while ago. I checked the value of them after this faceripper of a $6 rally, and they're worth 21 grand. Screw this busted ass market.