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☆ Seeing negative spillovers from natural gas bear market to oil demand: Goldman Sachs' Daan Struyven
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeeing negative spillovers from natural gas bear market to oil demand: Goldman Sachs' Daan StruyvenDaan Struyven, Goldman Sachs head of oil research, joins 'Squawk Box' to discuss the state of the oil and commodities market, impact of high rates on oil prices, oil demand and supply trends, and more.

Persons: Goldman Sachs, Daan, Daan Struyven

☆ Wall Street's scenarios for the Israel-Iran conflict from here and its impact on the oil market
▼ + stars: | 2024-04-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The oil market has brushed off Iran's weekend air assault against Israel, with futures trading as much as 1.5% lower on Monday. Oil prices could spike above $100 a barrel depending on how Israel responds to the attack, the analyst wrote. Attack 'well-telegraphed' Iran's attack, though unprecedented, did little actual damage as Israel and the U.S. intercepted nearly all the drones and missiles. The Islamic Republic warned, however, it would strike harder next time if Israel responds to the weekend attack. Potential threats include Iran seizing ships associated with Israel in the Strait of Hormuz; Israel attacking Iranian oil and gas assets; or Iran striking energy assets of its neighbors if Israel hits too hard.

Persons: Israel, Maximilian Layton, Layton, Brent, Helima Croft, CNBC's, Natasha Kaneva, Kaneva, Goldman, Daan Struyven, RBC's Croft, Jan Stuart, Piper Sandler, Stuart Organizations: Citi ., Brent, Citi, RBC Capital Markets, RBC, U.S, United Nations, Islamic, JPMorgan, CNBC Locations: Israel, Iran, Damascus, Syria, Tehran, Lebanon, Republic, Islamic Republic, Goldman Sachs, Strait, Hormuz, Iranian

☆ The geopolitical risk premium in crude markets is 'still not very elevated,' Goldman Sachs says
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe geopolitical risk premium in crude markets is 'still not very elevated,' Goldman Sachs saysDaan Struyven, head of oil research at Goldman Sachs, says the geopolitical risk premium has "edged up" but is still "significantly lower than it was … in October of last year, and much lower than what it was in 2022."

Persons: Goldman Sachs, Daan Struyven

☆ Goldman Sachs discusses its base case for oil this year
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs discusses its base case for oil this yearDaan Struyven, head of oil research at Goldman Sachs, says "our base case is that Brent is going to be in the low to mid 80s this year, with a peak of 85 this summer."

Persons: Goldman Sachs, Daan Struyven, Brent

☆ Our base is Brent will remain in the 70-90 range, says Goldman Sachs' Daan Struyven
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur base is Brent will remain in the 70-90 range, says Goldman Sachs' Daan StruyvenDaan Struyven, Goldman Sachs head of oil research, joins 'Squawk Box' to discuss the state of the oil market, the impact of Middle East turmoil on the energy sector, and more.

Persons: Brent, Goldman Sachs, Daan, Daan Struyven

☆ Oil prices could spike 20%, possibly double if Middle East conflict disrupts Strait of Hormuz
▼ + stars: | 2024-01-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Shipping can be rerouted away from the Red Sea, but crude would be essentially trapped if the strait is shut down, Struyven said. A prolonged disruption in the strait could eventually double oil prices, he said. McNally thinks the market should be factoring in a $12 geopolitical risk premium in oil prices right now. Wirth told CNBC's Sullivan that Chevron is currently working with the U.S. Navy to protect its vessels transiting the Red Sea. "Hopefully, if it doesn't escalate further, we'll be OK — even if there has to be a wholesale diversion of shipments around the Red Sea," Granholm said.

Persons: you've, Daan Struyven, Goldman Sachs, CNBC's Brian Sullivan, Struyven, Bob McNally, McNally, Bush, Antony Blinken, Daniel Yergin, Yergin, Michael Wirth, Tehran's, Wirth, CNBC's Sullivan, Joe Biden's, Jennifer Granholm, Granholm, Israel, Benny Gantz, Gantz, Biden's, Bob Yawger, Yawger, Brent Organizations: Shipping, Rapidan Energy Group, National Security Council, P Global, Brent, Chevron, U.S . Navy, NBC News . Energy, Mizuho, Energy Information Agency, Gulf Locations: Red, Iran, Hormuz, Persian, Israel, Strait, Yemen, Danish, U.S, Lebanon, Beirut, Lebanese, Islamic Republic, The U.S, Europe, South Africa, United States, East

☆ Saudi Arabia is struggling to boost oil prices, raising possibility of supply war with U.S.
▼ + stars: | 2023-12-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

OPEC is facing growing challenges in its efforts to boost oil prices amid record output outside the alliance, particularly in the U.S., raising questions about how long the alliance can maintain its deep production cuts. The outcome is a "bittersweet victory" for OPEC kingpin Saudi Arabia, wrote Jorge Leon, senior vice president of Rystad Energy, in a note Thursday. With oil prices down more than 14% since September highs, traders were hoping that OPEC could provide a boost. In the end, Saudi Arabia may have only one option — launch a supply war by flooding the market with oil. The 2.2 million bpd in voluntary cuts from the coalition of the willing is somewhat deceiving.

Persons: Jorge Leon, bode, Leon, Brent, Natasha Kaneva, Paul Sankey, John Kilduff, Kilduff, it's, Sankey, Kaneva, Goldman Sachs, Goldman, Daan Struyven, Struyven Organizations: Rystad Energy, Traders, Sankey Research, U.S . Oil, U.S, OPEC, United Arab, Goldman Locations: U.S, OPEC, Saudi Arabia, Riyadh, Saudi, China, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, Oman

☆ The money you are saving at the pump this holiday season is probably only temporary
▼ + stars: | 2023-11-21 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Goldman Sachs researchers are projecting oil prices to jump nearly 20% next year. AdvertisementAs the holiday season approaches, drivers are experiencing a welcome respite at gas stations, but those savings will likely go away in the new year. Last week, West Texas Intermediate crude, a benchmark for oil prices, dipped to approximately $73 per barrel, a significant 20% drop from its late September peak of $94. "The big surprise of 2023 is stronger than expected non-OPEC supply growth, which we think will slow heading into 2024," Struyven said. And what the US economy doesn't need in the near future is Americans tightening their budgets after their summer of fun and the holiday spending season.

Persons: Goldman Sachs, —, GasBuddy, Daan Struyven, CNBC's, Dado Ruvic, Struyven, David Kelly, We're, Kelly Organizations: Service, West, AAA, OPEC, Reuters, US Strategic Petroleum Reserve, Biden, Strategic Petroleum Reserve Energy Department, Strategic Petroleum Reserve, Morgan Asset Management Locations: West Texas, OPEC, Ukraine, Russia, Saudi Arabia

☆ OPEC will be able to keep oil prices high, supply will be tightening: Goldman Sachs' Daan Struyven
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC will be able to keep oil prices high, supply will be tightening: Goldman Sachs' Daan StruyvenHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Goldman Sachs, Daan Struyven, Brian Sullivan, “ Organizations: CNBC

☆ Two ways Israel-Hamas war could lead to much higher oil prices
▼ + stars: | 2023-10-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The escalating conflict between Israel and Hamas threatens to push oil prices higher by straining relations between major oil-producing countries in the Middle East, according to Wall Street experts. Oil prices rose Monday after the weekend attacks, though they remain below recent highs from two weeks ago. Saudi Arabia One key player on the sidelines of the war is Saudi Arabia. Iran The other major oil producer tied into the conflict is Iran, the chief backer of Hamas. Bank of America's Doug Leggate said in a note to clients that the United States could release oil from its strategic petroleum reserve if prices spike.

Persons: Goldman Sachs, Daan Struyven, Struyven, Helima Croft, Antony Blinken, Goldman's Struyven, Ed Morse, East . Bank of America's Doug Leggate, Leggate, — CNBC's Michael Bloom Organizations: Texas, Wall Street, Israel, Saudi, RBC Capital Markets, Hamas, East . Bank of America's Locations: Israel, Gaza, East, Saudi Arabia, Saudi, Iran, U.S, Lebanon, United States

☆ Here's why Goldman Sachs expects oil prices to reach $100 a barrel by next spring
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Goldman Sachs expects oil prices to reach $100 a barrel by next springDaan Struyven, head of oil research at Goldman Sachs, joins 'Squawk on the Street' to discuss what will push oil prices above $100 a barrel, which country's production could help prices if any, and what's happening with the Strategic Petroleum Reserve in the United States.

Persons: Goldman Sachs, Daan Struyven Organizations: Strategic Petroleum Reserve Locations: United States

☆ Goldman Sachs expects OPEC+ production cuts to stay through 2024
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs expects OPEC+ production cuts to stay through 2024Daan Struyven, head of oil research at Goldman Sachs, says the organization will be "very patient in bringing back barrels to the market by exercising its unusually elevated pricing power."

Persons: Goldman Sachs, Daan Struyven Organizations: OPEC

☆ Goldman Sachs warns US energy policy is backfiring
▼ + stars: | 2023-09-27 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN Business —America’s emergency oil stockpile has plunged to 40-year lows. It has less levers left in its policy toolkit,” Daan Struyven, head of oil research at Goldman Sachs, told CNN in a phone interview. That’s one reason Goldman Sachs expects oil prices to stay high, averaging $100 a barrel this time next year. Saudi Arabia has an incentive to keep oil prices high in order to balance their budget. “Extremely high prices destroy long-term demand for Saudi barrels,” Struyven said.

Persons: Goldman Sachs, Daan Struyven, Biden, ”, Jennifer Granholm, Saudi Arabia’s, “, ” Struyven, Struyven, ” Francisco Blanch, Doug Lawler, “ That’s, ” Lawler, BofA’s Blanch, ” Blanch, ” Goldman’s Struyven, That’s Organizations: New York CNN Business —, Strategic Petroleum Reserve, CNN, Triple, White, Industry, Wall, The Energy Department, ”, Saudi, OPEC, AAA, Aramco, Bank of America, Resources, Bloomberg, Energy Department Locations: Saudi, Ukraine, Saudi Arabia, Russia, Saudi Aramco, OPEC

☆ Goldman Sachs raises international oil price forecast to $100 a barrel
▼ + stars: | 2023-09-20 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Oil prices are looking to edge as high as $100 a barrel, according to Goldman Sachs. Goldman raised its 12-month ahead Brent forecast to $100 per barrel from $93. The commodity has rallied 30% since late June due to OPEC supply cuts and strong demand. "The key reason is that significantly lower OPEC supply and higher demand more than offset significantly higher US supply," Struyven said in a Wednesday note. Higher oil prices have boosted inflation , sparking concerns in the market.

Persons: Goldman Sachs, Goldman, Brent, WTI, Daan Struyven, Struyven, Michael Bloom Locations: U.S, Europe

☆ Goldman Sachs expects 'all time high' oil demand to spur large deficits, boosting prices
▼ + stars: | 2023-07-24 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

In this article GSBDGS Follow your favorite stocks CREATE FREE ACCOUNTOil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., at night in Tuapse, Russia. Andrey Rudakov | Bloomberg | Getty ImagesGoldman Sachs expects record demand in oil markets to drive crude prices higher in the near term. He added that the bank forecasts Brent crude to rise from just above $80 per barrel now to $86 per barrel by year-end. Global benchmark Brent futures traded 0.39% lower at $80.75 a barrel, while U.S. West Texas Intermediate futures stood 0.42% at $76.75 per barrel. That metric, which tallies the number of active oil rigs, is used as an indicator of drilling activity and future output.

Persons: Andrey Rudakov, Goldman Sachs, Daan Struyven, CNBC's, Struyven Organizations: Rosneft Oil, Bloomberg, Getty, Brent, U.S, West Texas Locations: Tuapse, Russia

☆ Goldman Sachs says it expects Brent to rise to $86 per barrel by year-end
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs says it expects Brent to rise to $86 per barrel by year-endDaan Struyven, head of oil research at Goldman Sachs, says the investment bank forecasts Brent will rise from just above $80 right now to $86 per barrel by year-end, as it expects "pretty sizeable" deficits in the second half of the year.

Persons: Goldman Sachs, Brent, Daan Struyven Locations: Brent

☆ A lot of headwinds are fading on the oil market, says Goldman Sachs' Daan Struyven
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA lot of headwinds are fading on the oil market, says Goldman Sachs' Daan StruyvenDaan Struyven, Goldman Sachs head of oil research, joins 'Power Lunch' to discuss trends in the oil market.

Persons: Goldman Sachs, Daan, Daan Struyven

☆ Brent may rise toward $100/bbl as Saudi output cut could worsen supply gap - analysts
▼ + stars: | 2023-06-05 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

"Saudi Arabia has a track record of delivering on material cuts," RBC Capital's Helima Croft said in a note. "Hence, we would expect the full 1 million bpd unilateral cut to hit the market in July, nearly doubling the true physical reduction we have seen from the producer group since October." "With Saudi Arabia protecting oil prices from sliding too low by cutting production, we think oil markets are now more prone to a shortfall later this year," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "We think Brent futures will rise to $85/bbl by Q4 2023 even with a tepid demand recovery in China factored in." "Affording it the 200,000 bpd quota adjustment for 2024 seems to settle the issue of its OPEC membership for now."

Persons: Brent, Helima Croft, Vivek Dhar, Goldman Sachs, Daan Struyven, Callum Bruce, Daniel Hynes, Soni Kumari, RBC's Croft, Florence Tan, Sonali Paul Organizations: Saudi, Organization of, Petroleum, RBC, Commonwealth Bank of Australia, bbl, ANZ, U.S . Federal, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, China, Iran, Venezuela, OPEC, United Arab Emirates

☆ Goldman Sachs slashes its oil price target as banking fiasco boosts recession fears
▼ + stars: | 2023-03-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Goldman Sachs slashed its oil price forecast because the ongoing banking crisis is boosting fears of a recession. Oil prices have plunged 15% since Silicon Valley Bank collapsed earlier this month. Analysts now expect oil prices to trade at about $94 per barrel in the next 12 months. Oil prices are down by about 50% from a March 2022 high of $130 per barrel. According to Goldman, ongoing banking stress, recession fears, and an exodus of investor flows should weigh on oil prices despite the reopening of China.

☆ China's reopening will be the gamechanger for oil prices this year, says Goldman's Daan Struyven
▼ + stars: | 2023-02-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's reopening will be the gamechanger for oil prices this year, says Goldman's Daan StruyvenGoldman Sachs’ Daan Struyven joins Morgan Brennan and the ‘CNBC Special: Taking Stock’ to discuss what China’s reopening could mean to demand for oil and petroleum products.

☆ A 30-year investing vet who called the latest bear market warns that stocks have another 41% downside with US economy already in recession and the Fed continuing to ratchet up rates
▼ + stars: | 2022-12-31 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Jon Wolfenbarger thinks the US economy is already in recession. With growth slowing and the Fed still tightening, Wolfenbarger thinks stocks are due for big losses. The S&P 500 is already down around 20% year-to-date. All of that spells further trouble ahead for stocks, Wolfenbarger said, despite the fact that the S&P 500 has already fallen about 20% in 2022. In a recessionary scenario, Goldman Sachs' David Kostin said the S&P 500 could fall to 3,150, though that is not his base case.

☆ Here are 10 reasons why the US won't be hit with a recession in 2023, according to Goldman Sachs
▼ + stars: | 2022-12-01 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

A recession in the US is unlikely in 2023, according to Goldman Sachs. Analyst consensus says there's a 63% chance of a recession, but Goldman Sachs says it's far lower. Goldman Sachs isn't bullish on stocks in 2023, but compared to some of its Wall Street peers, its outlook for the US economy is rosy. "Our baseline is that the US economy narrowly escapes a recession in 2023," Struyven said. Goldman SachsLastly, inventory gluts that are crushing profit margins of retailers like Target (TGT) won't spread beyond the consumer discretionary sector, according to Goldman Sachs.

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