Oil prices will surge to $100 this year, Goldman Sachs warns
CNN
Goldman Sachs is now calling for oil prices to hit $100 a barrel later this year and continue rising in 2023, signaling higher prices at the pump are on the way.
In a Monday evening report to clients, the Wall Street bank backed up its bullish call by citing "robust fundamentals" in the oil market, a "surprisingly large" supply deficit and diminishing firepower from OPEC and its allies. Goldman Sachs (GS) also pointed to diminished appetite to invest in oil due to the energy transition.
By summer, the bank expects oil inventories in advanced economies will sink to their lowest level since 2000.
At least 30 people were detained by New York Police Department officers, CNN witnessed, as police entered Columbia University on Thursday to disperse a pro-Palestinian protest that began a day earlier as the university’s president testified before a House committee about the school’s response to antisemitism.
President Joe Biden is tapping a senior White House official to serve as US ambassador to the Organization for Security and Cooperation in Europe, a key body amid the ongoing war in Ukraine and at a time when the US is seeking to project confidence about its support for Ukraine, according to an announcement from the White House.
Speaker Mike Johnson is being lobbied by his members to raise the threshold required to trigger the procedure to oust the speaker, according to multiple GOP sources – a move that would help ensure the Louisiana Republican can pass foreign aid bills and still keep his job without needing to rely on Democrats to bail him out.