Economics

1100 readers

121 users here now

founded 2 years ago

Oil rises to $110. Goldman Sachs says we’ll be in the triple digits for years (www.cnn.com)

submitted 1 day ago by MicroWave@lemmy.world to c/economics@lemmy.world

13 comments fedilink hide all child comments

Oil prices rose Friday as energy infrastructure in the Middle East was damaged and the vital Strait of Hormuz was still largely shut.

Goldman Sachs even suggested that higher prices could last all the way through 2027.

Brent crude, the global oil benchmark, rose 1.4% to $110.2 a barrel. WTI, the US benchmark, was up 0.3% at $95.9.

“The persistence of several prior large supply shocks underscores the risk that oil prices may stay above $100 for longer in risk scenarios with lengthier disruptions and large persistent supply losses,” Goldman analysts wrote in a note Thursday.

you are viewing a single comment's thread
view the rest of the comments

[–] galaxy_nova@lemmy.world 11 points 1 day ago (1 children)

If republicans truly wanted independence from other countries that they seem to love we’d have renewable energy.

[–] jtrek@startrek.website 11 points 1 day ago

Republicans don't speak honestly. They just say whatever they think will get them power and in-group solidarity.