How Goldman Sachs Predicted The Biggest Oil Price Crash In History

Goldman Sachs booked revenues of more than US$1 billion in its commodities division for the first five months of 2020—the investment bank’s best start to a year in commodities in a decade, mostly thanks to oil trades, Bloomberg News reported on Wednesday, citing people familiar with the matter. Goldman Sachs was one of the most active banks in commodities before the 2008 financial crisis, but it has since shrunk its commodities division because of lackluster profits, higher costs, and stricter regulation regarding investment banks entering…