Goldman, Morgan Stanley Are Bullish on Oil, Copper on Demand
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Goldman Sachs Group Inc. and Morgan Stanley kept their bullish view on oil and copper, predicting a global recovery in the second half that will push up prices.
Both banks maintained their Brent-crude forecasts even after a 4.2 percent decline in the second quarter. The world economy will accelerate in the second half, boosting demand and helping raw materials with supply constraints, Goldman analysts led by London-based Jeffrey Currie said in a report dated today.