Goldman Sachs: This Oil Rally Is Not Going to Last

Nothing has really changed.

Still oversupplied.
Photographer: Jamie Schwaberow/Bloomberg

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By Luke Kawa

October 9, 2015 at 10:52 AM UTC

This article is for subscribers only.

Oil has been surging this week but Goldman Sachs is calling for gains to be short-lived.

The front-month West Texas Intermediate futures contract enjoyed a double-digit advance in recent days, breaking above $50 per barrel on Thursday for the first time since July: