Oil to Rise After Goldman Sachs Boosts Outlook, Survey Shows

- May 27th, 2011

San Francisco Chronicle reports that crude oil may surge next week after Goldman Sachs Group Inc. and Morgan Stanley increased their price projections.

San Francisco Chronicle reports that crude oil may surge next week after Goldman Sachs Group Inc. and Morgan Stanley increased their price projections.

The market news is quoted as saying:

Goldman, which correctly advised investors to sell oil and copper last month before a price slump, boosted its 12-month prediction for Brent crude to $130 a barrel from $107, analysts led by Jeffrey Currie said May 24 in a report. Morgan Stanley raised its estimate by 20 percent to an average $120 this year and by 24 percent to $130 in 2012.

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