Brent crude has touched nearly $100, but has retreated to below $97. Goldman Sachs raises its year-end forecasts, expecting a price of $85.
Brent crude reached nearly $100 this morning, but has fallen below $97 this afternoon, according to expansion.com. This situation arises in the context of increasing tensions between Iran and the United States, which have impacted crude prices.
In less than a month, oil has recorded a 24.3% increase, rising from $78 at the beginning of August to nearly the $100 mark. However, this rise has been threatened by an increase in attacks on the energy industry in the Middle East and a decline in maritime traffic through the Strait of Hormuz, which has reached its lowest level since May.
Analysts at Goldman Sachs have revised their forecasts for oil prices, anticipating that Brent crude will close the year at $85, an increase from the $80 they had previously predicted. For 2027, they forecast that declines will be limited to $80.
Additionally, Goldman Sachs' report includes an optimistic scenario in which the barrel could exceed $120 if Gulf production remains four million barrels per day below pre-war levels.
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