Investment bank Goldman Sachs expects volatile oil prices in the short-term on the back of uncertainty over possible disruptions to supply, with benchmark Brent crude in a $70-80 per barrel range. Oil prices have declined sharply the past week as the Sino-U.S. trade war intensifies and were hovering below $72 per barrel on Tuesday, not far from their lowest since mid-April. [O/R] “Production disruptions and large supply shifts driven by U.S. political decisions are the drivers of this new fundamental volatility, with demand remaining robust so far,” the bank said in a note dated Monday. The administration of U.S. President Donald Trump is pushing countries to cut all imports of Iranian oil from November as it reimposes sanctions over Tehran’s nuclear program. But U.S. Treasury Secretary Steven Mnuchin said on Monday that in certain cases, there could be waivers for countries that need more time to wind […]