Goldman Sachs sees economic recovery pushing oil to $85 in 2009


Oh no, not this again. Less than a year after a leverage-fed record high $147-a-barrel price helped plunge the U.S. economy into a recession, and despite high inventories, a leading investment bank said it expects oil prices to be "off to the races again" soon.

Goldman Sachs (GS) now says oil may reach $85 per barrel by year's end, $90 by this time next year, and forecast a price of $95 by the end of 2010, Bloomberg News reported Thursday.

Originally published