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<Research>G Sachs Tweaks Down 2Q Brent Oil Forecast, but Upside Risks Persist
After the US and Iran reached a two-week truce deal, Brent and New York oil futures retreated to around USD95 per barrel, broadly in line with Goldman Sachs' expectations, the ...
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<Research>G Sachs Tweaks Down 2Q Brent Oil Forecast, but Upside Risks Persist
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After the US and Iran reached a two-week truce deal, Brent and New York oil futures retreated to around USD95 per barrel, broadly in line with Goldman Sachs' expectations, the broker's research report said.

In Goldman Sachs' estimation, energy transportation through the Strait of Hormuz will begin resuming by the end of this week, followed by a gradual recovery in Persian Gulf exports to pre-war levels within one month.

Related NewsInflation Rate YoY for Mar in United States is 3.3%, higher than the previous value of 2.4%. The forecast was 3.3%.
Goldman Sachs has maintained its oil price forecasts for 3Q26 and 4Q26 unchanged, projecting Brent oil at USD82 and USD80 per barrel, and New York oil at USD77 and USD75 per barrel, respectively. Regarding the 2Q26 forecasts, however, the broker mildly lowered its 2Q26 forecasts for Brent and New York oil to USD90 and USD87 per barrel.

That said, the report underscored that uncertainties remain in the current situation, and overall risks to the broker's oil price forecasts are still believed to be leaning toward the upside, as supply disruptions may last longer than expected, and crude production could continue to suffer losses.

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