Financial Times FT.com

US energy stocks race ahead

By Jeremy Lemer

Published: May 16 2008 14:15 | Last updated: May 16 2008 18:59

Wall Street stocks slipped back on Friday but remained ahead for the week as resurgent oil prices boosted energy stocks but threatened to squeeze already weak consumer spending and financials lost ground.

Energy stocks were in sharp focus again. Oil prices hit record highs after analysts at Goldman Sachs raised their oil price forecast for the second half of 2008 from $107 to $141 a barrel.

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