According to Goldman Sachs, the renewed risk of escalating tensions in the Middle East implies a net upside risk to its forecast of $80 per barrel for Brent crude and $75 for WTI crude in the fourth quarter of 2026.
The firm states that if shipping disruptions through the Strait of Hormuz persist, Brent crude oil could potentially exceed $120 per barrel during the fourth quarter of 2026.
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