Public Event Detail
Goldman Sachs hikes oil-price outlook as Hormuz shock intensifies
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2026-04-27XOMExxon MobilAlpha Vantage Newsguidance
Event summary
Goldman Sachs has raised its oil-price forecasts, with Brent crude now expected to average $90 a barrel in the fourth quarter, up from a previous outlook of $80. This revision is attributed to the "extreme" inventory draws caused by the prolonged closure of the Strait of Hormuz due to the Iran war, which has severely disrupted global oil supply. The bank anticipates a normalization of Gulf exports by the end of June and a slower recovery in Gulf production.
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