Goldman Sachs: This Is The Next Big Risk For Oil

Echoing commentary published here during the weekend, overnight Goldman’s chief commodity Jeffrey Currie repeated his recommendation to overweight allocation to oil to “hedge against increased geopolitical risks, driven by elevated US-Middle East tensions” which as of this weekend, have “broadened to include Saudi Arabia.” Specifically, Goldman now believes that “the balance of risks given the potential magnitude of supply shortfalls from Iran in the short-term or Saudi potentially outweighs for now a backdrop of weaker fundamentals and increased…