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Goldman says demand destruction only thing that can restrain oil

Demand destruction is the only thing that can stop oil shooting higher after the US and European allies unleashed additional curbs on Russia following its invasion of Ukraine, according to Goldman Sachs Group Inc.

Photo: Sergei Karpukhin/Reuters/Ritzau Scanpix

The bank raised its one-month forecast for Brent crude to USD 115 a barrel, from USD 95, with significant upside risks on further escalation or longer disruption.

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