Goldman Sachs Predicts Prolonged High Oil Prices

Goldman Sachs' commodities research team anticipates that elevated oil prices will persist for an extended period. According to Odaily, the firm currently expects oil flow through the Strait of Hormuz to remain at 5% below normal levels for up to six weeks before gradually returning to normal. Additionally, due to concerns over high production concentration and idle capacity risks, strategic reserves are expected to see structural growth, leading to a rise in long-term prices. Goldman Sachs now forecasts the average price of Brent crude oil to be $85 per barrel in 2026, up from the previous estimate of $77 per barrel.