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Brent Oil Price Could Exceed $110 - Warns Goldman Sachs

2026-07-16 12:28:02

Goldman Sachs said Brent crude prices could rise above $110 per barrel if renewed attacks on tankers continue to disrupt oil exports through the Persian Gulf. The bank said Gulf exports have fallen to below 50% of pre-conflict levels, tightening global supply. While Goldman maintained its base-case forecast of $80 per barrel for late 2026 and $75 for 2027, it said prolonged export disruptions could drive prices sharply higher, while stronger-than-expected production could push Brent into the $60 range.

BZ-0.02%

GS-4.72%

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