Goldman Commodity Analysts Ask: How Did We Get It So Wrong?
- Bank remains bullish commodities, cuts oil forecast by $7.50
- Brent, WTI crude prices slipped into bear markets last week
Analyst Epstein Sees No Bulls, but a Bounce for Oil
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Goldman Sachs Group Inc. analysts might not be the only ones to have incorrectly called commodity prices this year, but they are at least trying to figure out how they misjudged the market.
Commodities have tumbled 9 percent since their 2017 peak in mid-February, and Goldman acknowledges that some factors weren’t predictable, including rising oil supplies in Libya and Nigeria and the impact of weather on crops.