Oil Forecasts

Analysts at Goldman Sachs, led by Damien Courvalin, previously forecast the global oil market to be characterized in the fourth quarter by a 300,000 barrel per day draw. On Tuesday, the analyst revised his forecast from a 300,000 barrel a day shortfall to now a 400,000 barrel per day surplus....

The market picked up where it left off Tuesday and recorded a second straight day of strong gains. The Dow posted a triple digit point gain while the S&P 500 and Nasdaq all gained as the Federal Reserve's Beige Book indicated that economic growth remained healthy in most U.S. regions. The...