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Goldman raises 2008 oil price forecast to $117.40
A worker fills a gas tank of a car at a roadside gas station in Kampong Speu province, about 60 km (37 miles) west of Phonm Penh June 17, 2008.
Credit: Reuters/Chor Sokunthea
LONDON |
LONDON (Reuters) - Goldman Sachs (GS.N) on Thursday raised its 2008 average Brent crude oil price forecast to $117.40 a barrel from a $108 due to tight supplies.
"We have increased our price forecasts to reflect a continued tightening of global crude oil supply/demand fundamentals and the resulting higher oil prices," the U.S. investment bank said.
Goldman expected Brent crude would rise to an average $140 in 2009 and peak at $150 in 2010.
Prices would ease to an average $140 in 2011 and $85 in 2012, the bank said.
(Reporting by Ikuko Kao)
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