Goldman Sachs raises Brent to $105 and WTI to $94
Goldman Sachs just bumped up its oil price predictions for the next couple of years, pointing to bigger risks of supply disruptions.
They now see Brent crude hitting $105 per barrel by December 2026 (up from $90), and West Texas Intermediate (WTI) reaching $94.
For 2027, they're forecasting $88 for Brent and $78 for WTI, both higher than before.
Ukraine, Middle East conflicts raise risk
Ongoing conflicts in Ukraine and the Middle East are making oil supplies less certain, with markets reacting by pricing in more risk.
Goldman's strategist Daan Struyven noted that a diplomatic fix seems unlikely right now, so they're allowing for possible supply hits of up to 1 million barrels per day in 2027.
If things get worse, like if the conflicts escalate, oil prices could even rise further, meaning we could be in for some real volatility at the pump.