Back then, 275 horsepower, courtesy of GM’s LT1 5.7-liter V8 engine, was breathtaking. A few years later, when Ram Air induction systems freed up enough fresh air to boost power over 300 ponies, I figured we were right back where my father’s generation left off when the seminal muscle car era ended around the year 1974. Horsepower continued climbing, prices remained within reach of the average new-car buyer looking for cheap performance, and a whole new level of muscular magnitude continued widening eyes of automotive enthusiasts all across the United States.
Goldman Sachs Head of Energy Research & Senior Commodity Strategist, Damien Courvalin, joins Yahoo Finance to discuss the oil markets trajectory as prices move higher and what to expect as the global recovery from the pandemic continues.
U.S. crude and gasoline stocks fell sharply last week, even as refining activity dipped modestly, with demand continuing to grow, the U.S. Energy Information Administration said on Wednesday. Crude inventories fell by 7.6 million barrels in the week to June 18 to 459.1 million barrels, their lowest since March 2020. Crude inventories are down by 9% since mid-March as refiners have boosted activity in advance of peak driving season and rebounding economic activity.