¬†Goldman Sachs said the case for higher oil prices was still strong with current supply shortfalls well above its expectations in recent months, despite a recent retreat led by factors including global recession concerns. The market will remain in unsustainable deficits at current prices and balancing it will still require “demand destruction on top of the ongoing economic slowdown,” the investment bank said in a note dated Aug. 7. Oil prices hovered near multi-month lows on Monday, pressured by lingering worries about an economic slowdown. Goldman said a divergence between benchmark Brent prices , which averaged $110 a barrel in June and July, and the corresponding Brent-equivalent global retail fuel price of $160 per barrel was not enough to trigger enough demand destruction to end […]