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Brent crude may climb to $90 a barrel if the winter in the northern hemisphere is colder than normal, Bloomberg reported, citing Jeff Currie, Global Head of Commodities Research at Goldman Sachs.

 

Such a rise would be $10 higher than the bank’s current forecast for Brent crude, the report said.

 

Earlier this week, the bank said a colder winter could lead to a 900,000 barrels per day (bpd) increase in oil demand.

 

Meanwhile, the world’s biggest independent oil trader, Vitol SA, said traders will be watching weather patterns closely, with a warm winter in the northern hemisphere being key to whether prices fall back.

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