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Goldman Says Commodity Prices Are 'Irrational'—After Slicing Oil Forecast

·1 min read
Goldman Says Commodity Prices Are 'Irrational'—After Slicing Oil Forecast

Analysts at Goldman Sachs said commodity markets were behaving irrationally, and warned of "unsustainable prices." Prices and inventories are falling, while demand is beating expectations and supply is disappointing, they said in a note late Thursday. Normally, a combination of higher demand and lower supply would make prices rise. The bank lowered its forecast for Brent prices earlier this week. It now predicts $125 a barrel in three months' time and $120 a barrel in 12 months. Goldman Sachs pr