GOLDMAN SACHS: Brent Crude oil could spike again but not until later this year

Get the Full StoryCarlos Garcia Rawlins Reuters

Goldman Sachs has been bullish on crude oil this year.

The bank says crude could hit 80 a barrel, but not until later in the year.

Limited supply has been stabilizing prices.

Goldman Sachs—which has been bullish on oil for most of this year— continues to expect that Brent Crude prices could retest the 80 a barrel threshold this year, but probably only late in 2018, not this summer, as uncertainties mount over the timing and magnitude of global supply disruptions.

“Production disruptions and large supply shifts driven by U.S. political decisions are the drivers of this new fundamental volatility, with demand remaining robust so far,” Goldman Sachs said in a note on Monday, adding that Brent Crude is expected to trade in the 70- 80 a barrel range amid this new fundamental volatility.See the rest of the story at Business InsiderNOW WATCH: Here's why the US Men's team sucks at soccerSee Also:The recent drop in oil prices may be just a correctionThe trade war is already hurting industrials here's why energy could be nextSpare capacity is emerging as the biggest risk factor in oilSEE ALSO: Berkshire Hathaway is jumping after Warren Buffett signals buybacks are coming BRK.A

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