- Goldman says oil is unusually risky right now — supply losses from the Iran war could push prices up, but weaker demand could push them down just as sharply.
- April sales data from China and Western Europe imply about a 2 million barrels/day drop in demand, which could cut roughly $10/barrel from Goldman’s Brent forecast.
- China’s imports may fall to pandemic-era lows (around 10.9 mb/d), and Brent is trading near $93 as markets react to both peace hopes and ongoing Middle East disruption.
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