new York Goldman Sachs advises investors to overweight commodities in their portfolios. Against the background of the serious energy crisis and material shortages, a recovery in raw material prices is imminent, the US investment bank is forecasting. The positive outlook would dominate the recession risks currently plaguing global markets.
“Our analysts think the risk of a recession outside of Europe over the next 12 months is relatively low,” they write Goldman analysts in a recent study. “In times of energy shortages, oil is considered an emergency resource. As such, we believe the pullback across the oil sector is an attractive entry point for long-term investors.”
>> Read here: Economic risks and supply bottlenecks are causing sharp swings in the oil price
Commodity prices hit record highs in June as Russia’s war of aggression in Ukraine reduced production levels and damaged supply chains. The price of a barrel of North Sea Brent oil had risen to the $124 mark.
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