BLBG:Crude Rises First Day In Seven; Goldman Says Decline Unwarranted
Oil for June delivery rose as much as 49 cents, or 0.5 percent, to $91.97 a barrel in electronic trading on the New York Mercantile Exchange, and was at $91.93 at 11:36 a.m. Sydney time. Prices have fallen the past six days and are down 12 percent this month.
The extent of the sell-off was unwarranted as the balance between supply and demand is tightening, Goldman Sachs Group Inc. said in a report e-mailed today.
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
