- Oil futures fell Friday morning after rising 2.3% over the past two sessions
- COVID uncertainty remains as cases and hospitalizations in the U.S. surge
- Goldman Sachs says $100 oil is possible
- Oil reaching $100/Bbl in 2023 cannot be ruled out as supply additions are expected to be too slow to keep up with record demand, according to Goldman (BBG)
- The IB bank’s base forecast is for Brent to stay around $85/Bbl next year and in 2023
- Oil prices could hit triple digits through either higher inflation costs for drillers or if an unexpected supply shortfall forces prices to spike high enough to destroy demand, according to Damien Courvalin, head of energy research
- The premium of Brent crude to WTI may narrow over the next year if U.S. production disappoints, Energy Aspects research director Amrita Sen said in an interview on Bloomberg TV
- Focus on cleaner energy is leading to a path where no one is being incentivized to pump oil; that’s why there’s a discrepancy between demand and supply
- European refiners now want WTI-quality crude amid high natural gas prices
- The added pull of U.S. crude could send WTI higher relative to Brent “if U.S. production doesn't grow as much”