Goldman Sachs: Oil prices steadying at current level

Spare capacity: The United States spooked markets worldwide with oil supply worries last month after it reimposed trade sanctions on Iran, one of the major global oil suppliers, bringing focus back on the Opec. — AP

Bengaluru: Crude oil prices are likely to remain steady around current levels, as growing macro uncertainties, rising US output and large availability of core Opec nations’ spare capacity will offset supply constraints from Iran and Venezuela, according to Goldman Sachs.

The United States spooked markets worldwide with oil supply worries last month after it reimposed trade sanctions on Iran, one of the major global oil suppliers, bringing focus back on the Organisation of the Petroleum Exporting Countries (Opec).