Oil prices finished sharply higher Thursday after analysts at Goldman Sachs said the market has likely reached a balance between supply and demand, and that Brent crude prices are expected to top $80 a barrel later this year. U.S. government data released Wednesday showing a surprise fall in weekly domestic gasoline supplies on the heels of strong demand, also provided a boost for oil prices. March West Texas Intermediate crude rose $1.07, or 1.7%, to settle at $65.80 a barrel on the New York Mercantile Exchange.
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