Goldman Sachs, Wall Street’s most bullish investment bank on oil, on Tuesday turned negative on the short-term outlook for crude, recommending investors take profits after prices jumped to a record above $90 a barrel.

West Texas Intermediate crude oil fell $2.73 to $90.80 a barrel in early trading in the US, partly in response to the warning from the investment bank, which has been influential on the oil market with upbeat price forecasts, including one in 2005 of a “super spike” in crude to $105 a barrel.