Overnight market review (2022.9.6) Goldman Sachs said that despite the G7 imposing a price cap on Russian oil, oil prices will surge to $125 in 2023.
On Friday, Goldman Sachs warned that any type of price cap deal would be “bearish in theory, but bullish in practice” as Russia’s response could be to reduce oil exports to the G7.
As with the natural gas market, Russia is likely to retaliate by cutting off exports to the G7 and halting crude oil production, increasing global crude prices and its own revenue, the data showed.
On Friday, the G7 group, which includes Canada, France, Germany, the United Kingdom, and the United States, announced that it will impose a real-time price cap on Russian crude oil on December 5.
Trading strategy deployment: it is recommended to go short at high levels
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