Thursday, June 4, 2009

Goldman Sachs: Expect oil prices to soar to $85 by December

Wall Street's largest commodity dealer Goldman Sachs is bullish on oil. This week, Goldman raised its end of year target price from $65 to $85.

Goldman cites all the usual suspects... dwindling supply growth from non-OPEC members... increasing demand. The firm ads that oil could hit $100 by 2010.

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