Goldman Sachs: Oil Prices Likely to Remain Elevated

MarsBitNews · 2026-03-23T02:30:17+00:00

Goldman Sachs expects high oil prices to last for a prolonged period, with oil flow through the Strait of Hormuz remaining at 5% below normal levels for six weeks before returning to normal. Additionally, due to the potential increase in strategic reserves, the average Brent crude oil price in 2026 is expected to be raised to $85 per barrel.

MarsBitNews

2026-03-23 02:30:17

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Mars Finance News, March 23 — Goldman Sachs’ Commodities Research Team predicts that high oil prices are expected to persist for a long period. Goldman Sachs currently estimates that oil flow through the Strait of Hormuz will remain at a low level of about 5% of normal, lasting for up to six weeks before gradually returning to normal levels. Additionally, due to concerns over the risks associated with high production concentration and idle capacity, strategic reserves are expected to see structural growth, and long-term prices will also rise accordingly. Goldman Sachs now forecasts the average Brent crude oil price in 2026 to be $85 per barrel, up from the previous estimate of $77 per barrel. (Jin10)

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