LONDON (Reuters) – Oil prices climbed on Friday for the fourth day in a row after Goldman Sachs analysts suggested a shortage in the global oil market, and amid the onset of a new storm in the Gulf of Mexico.
Futures for Brent crude oil rose 0.74% to $ 43.62 per barrel by 09:15 Moscow time, WTI – added 0.76% to $ 41.28 per barrel.
Since the beginning of the week, oil has risen in price by about 10%.
“We estimate that the oil market remains in short supply and speculative positioning is now too low,” Goldman Sachs said in a new report.
The bank's analysts believe that by the fourth quarter, the daily deficit could reach 3 million barrels per day. The bank confirmed its forecast that the price of Brent will reach $ 49 per barrel by the end of the year and $ 65 per barrel by the third quarter of 2021.
Meanwhile, a tropical cyclone has formed in the western Gulf of Mexico, which could intensify into a hurricane in the next few days.
(Aaron Sheldrick. Translated by Vladimir Sadykov. Editor Anna Kozlova)