Iran’s rivals may not be able to make up for the shortfall: Goldman Sachs - Bloomberg

Omkar Godbole FXStreet Contributor

Goldman Sachs Group Inc. said on Tuesday that there is a risk oil will hold above $80 barrel toward the end of the year as Iran’s rivals may not be able to make up for the shortfall, according to Bloomberg.

Key points

Oil futures have gained recently, driven by “one-way financial flow from both consumers and investors.

Without producer selling, the two-year forward oil price has rallied to $75.50 a barrel, as consumers and investors hedge oil price risks associated with Iranian sanctions.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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