Goldman Sachs raised its fourth-quarter 2026 crude oil price forecasts. The bank cites lower Middle East production and prolonged shipping disruptions for the revision. It projects Brent crude will average $90 per barrel. The bank also expects West Texas Intermediate (WTI) to reach $83 per barrel.
Analysts expect exports through the Strait of Hormuz will not normalize until the end of June. This timeline delays the previous estimate of mid-May. Stalled peace talks between the United States and Iran further tighten global supplies.
Citigroup raised its second-quarter Brent forecast to $110 per barrel. Its bull-case scenario predicts prices could spike to $150 if disruptions persist through June. These revisions highlight the impact of geopolitical instability on the energy sector.