Brent oil surged to the highest level in seven years as physical markets run hot in the world’s largest consuming region and Goldman Sachs Group Inc. said prices are headed for $100 a barrel. Futures in London surged as high as $88.13 a barrel, a level was last seen in October 2014. With fears fading over the demand impact from omicron, traders are paying higher and higher premiums to get hold of cargoes in Asia. That’s a sign that they view the market as tight, and is underpinning this year’s 13% rally in headline prices. Goldman Sachs raised its Brent forecasts through 2022 and 2023 and predicted $100 oil in the third quarter. Robust fundamentals have reversed a price slump last year, keeping the market in a surprisingly large deficit, with the omicron variant having so […]