Goldman And Bernstein Clash On Impact Of Rate Hike On Oil

Bernstein: While Goldman Sachs thinks commodities such as oil might benefit from rate hikes, Bernstein analysts Neil Beveridge, Wei Hou and the Asia-Pacific Oil & Gas team take a slightly more nuanced view. Looking back at previous tightening events, Bernstein finds “little correlation” between such events and oil demand. As for China demand – which has been an economic engine driving world GDP growth and oil demand – there isn’t much to worry about, the report predicts. What causes oil price movements to fluctuate, supply or demand? In determining the price of oil, analysts have traditionally struggled with identifying the…