Goldman Sachs: Brent oil prices "at our summer peak"
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According to analysts at Goldman Sachs, Brent oil prices have reached their "summer peak" of $86 per barrel. The analysts attribute this to strong summer traveling activity in the U.S. and strong global jet demand. Despite a surprise increase in U.S. oil inventories, crude prices rose as traders considered geopolitical risks and confidence in the summer driving season. The Brent contract climbed 0.8% to $84.91 a barrel, while U.S. crude futures (WTI) traded 0.9% higher at $81.56 per barrel. The Goldman Sachs analysts also mentioned that geopolitical tensions, such as Israeli strikes on Gaza and Ukrainian attacks on Russian refineries, are still being monitored by the market.



https://www.investing.com/news/commodities-news/goldman-sachs-brent-oil-prices-at-our-summer-peak-3497008