The forecast comes at a time when the coronavirus pandemic has prompted many countries across the globe to effectively shut down.
tumbling into negative territoryBoth major oil benchmarks have registered modest gains in recent weeks. However, Brent crude futures and U.S. West Texas Intermediate futures are still down more than 50% on the start of 2020.
As a result, Currie said that he believes the only other commodity market "looking as precarious as oil" was livestock. The restrictions, which vary but broadly include school closures, bans on public gatherings and social distancing, have forced many restaurants to close their doors.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
There are 6 reasons why Goldman Sachs sees the market dropping nearly 20% in 3 months'A single catalyst may not spark a pullback, but a number of concerns and risks exist that we believe, and our client discussions confirm, investors are downplaying,' a strategist said.
Read more »
6 reasons stock market will slide 18% in next 3 months: Goldman Sachs - Business InsiderThe stock market's recent rally from late-March lows is best attributed to investors' 'fear of missing out,' Goldman's analysts wrote Friday.
Read more »
Goldman Sachs' Jeff Currie warns jet fuel demand may never fully recover from the coronavirus crisisA global public health crisis has led to an extreme demand shock in energy markets, with world travel brought close to a standstill.
Read more »
Goldman Sachs' Jeff Currie warns jet fuel demand may never fully recover from the coronavirus crisisA global public health crisis has led to an extreme demand shock in energy markets, with world travel brought close to a standstill.
Read more »
6 reasons stock market will slide 18% in next 3 months: Goldman Sachs - Business InsiderThe stock market's recent rally from late-March lows is best attributed to investors' 'fear of missing out,' Goldman's analysts wrote Friday.
Read more »
There are 6 reasons why Goldman Sachs sees the market dropping nearly 20% in 3 months'A single catalyst may not spark a pullback, but a number of concerns and risks exist that we believe, and our client discussions confirm, investors are downplaying,' a strategist said.
Read more »