Goldman Sachs: Biden Win Is Bullish For Oil

A Joe Biden win at next month’s U.S. elections will likely be an upward catalyst for oil prices because it will increase costs for the shale patch and will likely result in a weaker U.S. dollar, according to Goldman Sachs. “We do not expect the upcoming U.S. elections to derail our bullish forecasts for oil and gas prices, with a Blue Wave likely to be in fact a positive catalyst,” the investment bank said a research note on Sunday, as carried by CNBC. “Headwinds to U.S. oil and gas production would rise further under a…