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Actionable news in XIV: VELOCITYSHARES DAILY INVERSE VIX SHORT TERM ETN,

Oil price ultra-bear Goldman Sachs turns mildly bullish

U.S. bank Goldman Sachs, one of the most bearish forecasters on oil over the past year, on Monday raised its short-term price outlook as it said the market had flipped into a deficit due to production outages in Nigeria and Canada.

Goldman, one of the most active banks in commodities, had been predicting as recently as a few months ago that oil prices could fall below $20 a barrel due to global oversupply.

On Monday, it said it now saw U.S. crude trading as high as $50 per barrel in the second half of 2016, although it cautioned that price rises would be modest in 2017 as the market would return to surplus.

"The oil market has gone from nearing storage saturation to being in deficit much earlier than we...


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