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The Economic Times

Business

Anupam Nagar

Global Market: Goldman lifts brent, WTI forecasts as Hormuz shipping risks mount

Goldman Sachs Oil Gulf

Goldman Sachs has raised its Brent and West Texas Intermediate (WTI) crude oil price forecasts by $5 a barrel for December 2026 and 2027, citing expectations that shipping disruptions in the Middle East will persist into next year, Reuters reported.

The bank said Brent crude could rise above $120 a barrel in 2027 if average oil production in the Gulf remains 4 million barrels per day below pre-war levels. That compares with Goldman Sachs' base-case assumption of a 500,000-barrel-per-day shortfall.

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