After a choppy trading day, crude oil nevertheless rose more than 3% just days after Goldman Sachs (GS) raised its price forecasts for Brent crude. In notes published Monday, May 23, Goldman, reversing its commodity bear call just six weeks ago, boosted its year-end target for Brent by 20% to $120 per barrel from $105 and its 2012 forecast to $140 from $120. Goldman also raised its Brent price target to $115, $120 and $130 a barrel on a three-, six-, and 12-month horizon.
Read More: http://seekingalpha.com/article/272187-80-oil-by-september-when-fundamentals-smack-big-banks-in-the-face
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