Oil rises above $43 in New York as Goldman strikes bullish tone

Oil rises above $43 in New York as Goldman strikes bullish tone

BloombergOil rises above $43 a barrel in New York to its highest closing level since early March amid a broader rally in equities and as China's economic recovery continued. West Texas Intermediate futures snapped a two-day drop, rising 1.4% as of 2:34 pm in Dubai, while Brent crude for November settlement climbed around the same amount to $46.47. Data showed that China rebounded further in August as the world's second-largest economy emerges from its coronavirus-induced slump. That helped push up global stocks for a second day, while US Treasuries fell as investors moved out of havens. Goldman Sachs Group Inc. in a note raised its year-end forecast for WTI to $45.50 from $40, and for Brent to $48 from $43. "The market managed to remain in deficit despite a