Goldman Sachs expects Brent crude to trade in an $80-$90 per barrel range until there is greater clarity on either a new U.S.-Iran nuclear agreement or a significant escalation in the conflict between the two countries, according to a Reuters report on Tuesday.
The investment bank estimated the fair value of spot Brent crude at around $80 per barrel, indicating that oil markets are currently pricing in only a modest geopolitical risk premium despite persistent uncertainty over Middle East oil supplies.
