A better-than-expected demand growth and a deeper drop in supplies will likely power brent oil to highs above $70 per barrel in the near-term, according to analysts at Goldman Sachs. Notably, the bullish case presented by demand-supply conditions is backed by consstructive technical charts, also favouring a move above $70. Further, there is no imediate threat of long squeeze, as bullish bets are still depressed. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Reuters Poll – Over 60 pct of economists say not confident European central bank will raise rates before next downturn FX Street 4 years A better-than-expected demand growth and a deeper drop in supplies will likely power brent oil to highs above $70 per barrel in the near-term, according to analysts at Goldman Sachs. Notably, the bullish case presented by demand-supply conditions is backed by consstructive technical charts, also favouring a move above $70. Further, there is no imediate threat of long squeeze, as bullish bets are still depressed. Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
