Goldman Sachs has lowered its second quarter brent oil price forecast, citing the negative impact of coronavirus outbreak on the global demand growth as the main factor behind its decision. The investment banking giant has cut its forecast to $47 per barrel from the previous estimate of $57 per barrel. The global demand is expected to fall by 2.1 million barrels per day in the first half of this year, the investment bank added. The black gold, however, is expected to recover to $60 per barrel by the year-end. At press time, a barrel of brent is changing hands at $52.50. Prices hit a low of $48.42 on Monday, having topped out at $71.28 on Jan. 8. 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 PBOC keeps short-term rates steady, shrugs off Fed rate cut FX Street 3 years Goldman Sachs has lowered its second quarter brent oil price forecast, citing the negative impact of coronavirus outbreak on the global demand growth as the main factor behind its decision. The investment banking giant has cut its forecast to $47 per barrel from the previous estimate of $57 per barrel. The global demand is expected to fall by 2.1 million barrels per day in the first half of this year, the investment bank added. The black gold, however, is expected to recover to $60 per barrel by the year-end. At press time, a barrel of brent is changing hands at… 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.
