Goldman Sachs Raises December Brent Oil Price Forecast to $105

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Goldman Sachs raised its December Brent crude forecast to $105 per barrel, up from $90, citing increased risks to supply security. The analysts expect prices to remain elevated into next year, despite reports that Persian Gulf oil flows have returned to pre-war levels.

Goldman Sachs commodity analysts have revised their price forecast for Brent crude upwards, now expecting the benchmark to average $105 in December and remain elevated next year as well. This represents a nearly 17% increase from Goldman’s previous December forecast of $90 per barrel, with the team citing heightened risks to supply security, as reported by Bloomberg. The revision, which is the latest in a series of such revisions coming from various banks, comes despite multiple reports about oil flows from the Persian Gulf returning to pre-war…