This follows from Goldman Sachs‘ call earlier this week here:

• Goldman Sachs slashed its December Brent forecast to $86 /bbl (from previous estimate $95)

As a reminder, oil prices took a hit after Goldman’s revised forecast, with WTI crude hitting a low of $66.85 earlier this week before rebounding off its 200-week moving average to just above $70 at the moment.

This article was written by Justin Low at www.forexlive.com.