Brent crude was up 92 cents or 1.2% at $79.01 a barrel, having posted three straight weeks of gains. US Oil added 82 cents, or 1.1%, to $74.80, near its highest since July, after rising for a fifth straight week last week.
“While we have long held a bullish oil view, the current global supply-demand deficit is larger than we expected, with the recovery in global demand from the Delta impact even faster than our above-consensus forecast and with global supply remaining short of our below consensus forecasts,” Goldman said.
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