Goldman Sachs has raised its oil price forecasts, citing continued risks to shipping in the Middle East. The US investment bank said late Monday, local time, that it now expects the North Sea benchmark Brent to trade at $85 a barrel (159 litres) in December 2026 and the US benchmark WTI at $80. That is a $5 increase for each benchmark compared with its previous estimates.
For 2027, the bank’s analysts expect prices of $80 for Brent and $75 for WTI. The adjustment reflects the expectation that disruptions to maritime traffic in the region will persist into next year.
Goldman Sachs also said that if average oil production in the Gulf region in 2027 is 4 million barrels a day below pre-war levels, Brent could rise above $120 a barrel.
