Goldman Sachs raises Brent to $90 per barrel late 2026
Goldman Sachs just bumped its Brent oil price forecast to $90 per barrel for late 2026, thanks to the ongoing closure of the Strait of Hormuz, a crucial shipping route affected by conflict in Iran.
Analysts say this disruption is causing a rare drop in global oil inventories and putting serious pressure on supply.
Persian Gulf output down 14.5m bpd
With the Strait closed, crude output from the Persian Gulf has dropped by 14.5 million barrels a day, leading to what Goldman calls a 9.6 million-barrel daily deficit this quarter.
Morgan Stanley is even more cautious, keeping its price outlook at $110 per barrel for the current quarter, $100 for the third quarter, and $90 for the fourth quarter.
These higher oil prices could make global inflation worse and slow down economic growth, something everyone might feel at the pump or in their wallets soon.