In brief

• Goldman Sachs has raised its Brent crude price forecasts for the end of 2026 and for 2027.
• The bank cites the continuing risk of supply disruptions, mainly linked to Middle East tensions and a possible renewed US-Iran conflict.
• Brent could reach $105 a barrel under the new forecast.

Higher forecasts for 2026 and 2027

Goldman Sachs has raised its forecasts for Brent crude prices at the end of 2026 and for 2027 (Goldman Sachs podnosi prognozy cen ropy. Brent może kosztować 105 dolarów za baryłkę – Puls Biznesu) (Ropa może mocno podrożeć. Goldman Sachs ostrzega przed tym, co może wydarzyć się po wyborach w USA – Business Insider Polska). The bank's main reason is the continuing risk of supply disruptions (Goldman hikes oil prices forecast on high supply disruption risks – Investing.com).

Middle East tensions keep risk premium high

Goldman analysts expect tensions in the Middle East to keep a high risk premium in the oil market. They also see a growing chance that the conflict between the United States and Iran could flare up again. According to Bloomberg, the market is increasingly factoring in that scenario.

Price outlook

The revised forecast puts Brent at up to $105 a barrel. Because Brent is the main global benchmark, a move to that level would affect fuel costs and import bills in many countries.