7 Hrs
Source:
Sky News
Goldman Sachs: Brent to surpass $120 in late 2026
Goldman Sachs predicts that Brent crude oil prices will surpass $120 per barrel in the last quarter of 2026, with an average of $100 throughout the next year, should supply disruptions via the Strait of Hormuz continue and Gulf production not fully recover by the end of 2027. Despite these forecasts, oil prices declined today as markets balanced efforts to mediate between the United States and Iran with escalating attacks and risks in the region. Brent contracts fell by 0.3% to $88.83, while West Texas Intermediate remained steady at $82.49. These developments are a result of ongoing tensions and Gulf supply disruptions, highlighting the risks of raising oil price forecasts for the fourth quarter of 2026, especially amid decreasing Gulf exports that lower previous price expectations.
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