Oil - Goldman Sachs base case is a US$75 floor for Brent crude, but see downside risk

Goldman Sachs on Brent crude oil:

• "Base case remains that the $75 floor under Brent oil prices will withstand macro fears"
• But, they add that the uptick in recession risk strengthens their view that the risks to their $75-90 range for Brent skew to the downside, especially for 2025

What uptick in recession risk, you ask. Here you go:

• ICYMI - Goldman Sachs eyeing the August US employment report for a possible 50bp Fed cut

Brent, daily candles: