Goldman Sees $90 Oil (USO, DIG)
Benzinga 16 years ago
Long IdeasRumorsIntraday UpdateMarketsTrading IdeasETFs
Goldman Sachs (NYSE: GS) is out with a report saying shipbrokers are reporting floating crude storage is at the lowest level it's been in 18 months.
The floating draw has offset the onshore oil build. As a result, Goldman Sachs now sees sees oil at $90 per barrel, up from its current $75 level.
If investors believe this, they could profit from this by buying the United States Oil Fund LP ETF (NYSE: USO) or the ProShares Ultra Oil & Gas ETF (NYSE: DIG) if they are bullish on oil.
Beat the market consistently by receiving real-time trade alerts from the ETF Professor!
