Goldman Raises Oil Forecasts on Largest-Ever Supply Shock

Goldman Sachs Group Inc. raised its oil price forecasts for 2026 due to the prolonged disruption of flows through the Strait of Hormuz, which it described as the largest-ever supply shock for the global crude market.

Brent is expected to average $85 a barrel in 2026, up from an earlier forecast of $77, analysts including Daan Struyven said in a note. The full-year outlook for West Texas Intermediate was hiked to $79 from $72, they said.