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Goldman Sachs forecasts Brent above $120
Goldman Sachs expects Brent crude oil prices to exceed $120 per barrel in the last quarter of 2026 if supply disruptions through the Strait of Hormuz and escalating tensions in the region persist, with an anticipated average price of $100 per barrel in 2025. This reflects the impact of geopolitical developments, as markets are leaning toward volatility based on ongoing Iranian-U.S. mediation efforts and exchanges of attacks, while financial flows from the Gulf have declined to less than 45% of pre-war levels. Oil prices rose during the previous session, and although they have dipped today, further increases are expected if tensions continue.
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