Goldman Sachs raises Brent forecast to $90
US investment bank Goldman Sachs has raised its Brent crude oil price forecast for December 2026 from $85 to $90 per barrel, citing supply disruptions and geopolitical risks in the Middle East.
Analysts led by Daan Struyven warned that renewed escalation of regional conflicts could put further upward pressure on oil prices. The bank estimated the geopolitical risk premium embedded in crude prices at more than $20 per barrel.
Goldman Sachs expects oil prices could decline over time as Middle Eastern supply adjusts to changing conditions. The bank also projected an average December price of $81 per barrel for West Texas Intermediate (WTI), which has been trading at a discount to Brent partly due to elevated transportation costs between the United States and Europe. Its WTI price forecast for 2027 stands at $73 per barrel.
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