Goldman Sachs has raised its oil price forecasts, anticipating increased demand and potential supply disruptions. The investment bank now expects Brent crude to reach $85 per barrel in the near term, and $90 per barrel in 2026, according to reports from Al-Muttawail Al-Arabi.
This upward revision reflects concerns over geopolitical tensions, particularly threats to the Strait of Hormuz, a critical waterway for oil shipments. Recent reports indicate oil prices briefly surpassed $113 a barrel amid escalating anxieties about potential disruptions, as noted by Al-Youm Al-Sabea.
The revised forecasts come after a period of fluctuating oil prices. Earlier in the week, prices experienced a dip, falling 8% amid hopes for potential peace talks in the Middle East, as reported by Mal Newspaper. However, the recent increase in tensions has quickly reversed that trend.
West Texas Intermediate (WTI) crude futures also saw a rise, exceeding $100.26 per barrel, as indicated by Bawabat Al-Ahram. Goldman Sachs’ updated outlook suggests a continued bullish sentiment towards oil prices, driven by both supply-side risks and anticipated demand growth.
