Uncertainties about future global crude supply are likely to test a forecast for Brent crude prices to trade between $70/b to $75/b over the next few months, Goldman Sachs said in a report. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Loss of barrels from Iran and Venezuela as a result of US-imposed sanctions and uncertainty around the ability for other producers to compensate for the losses have been sending mixed prices signals to the market, the bank said. While there are indications of an oversupplied US market, the seaborne crude market looks “increasingly tight.” “In the next couple months, this lack of clarity in oil fundamentals is likely to keep speculative buyers hesitant and oil price volatility elevated, testing the boundaries of our $70-75/b expected Brent trading range,” Goldman said. The front-month July ICE Brent futures contract as of 3pm Singapore […]