Goldman Sachs expects commodities supercycle

LAUSANNE, Switzerland (Reuters) – Goldman Sachs (NYSE:) expects a commodities supercycle driven by China and the capital flight from energy markets in this month’s banking crisis, the U.S. bank’s head of commodities said.

“As losses mounted, it spilled into commodities,” Jeff Currie, global head of commodities for Goldman Sachs, told the Financial Times Commodities Global Summit.

“Historically, when you have this kind of scarring event, it takes months to get capital back … We will still get a deficit by June and it will drive oil prices higher.”

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