As Americans gear up to hit the road this season, Goldman sees strong demand heating up oil like the summer sun. The bank forecasts crude climbing 7.5% from current $80 levels.
All that transportation and air conditioning use could drain supply faster than expected. And low global stockpiles mean any drop under $75 may not last long.
The US is working to replenish strategic reserves drawn down last year. But will recent solicitations for millions of barrels priced at $79 or less get supplies back in time for peak driving demand?
Either way, the summer blend may cost you extra at the pump. Join me by the fire for your take on whether vacation road trips can dodge $86 oil - and what other factors may steer prices this season!
