Goldman Sachs: Brent at $120 is now ‘plausible'
CNBC International TV
|
September 10, 2026 at 08:45 PM UTC
Bullish
90% Confidence
Watch on YouTube
Key Points
- Goldman Sachs raises Brent/WTI price forecasts to $85/80 per barrel for December and $80/75 per barrel for 2027.
- The firm views $120 Brent crude as 'plausible' if shipping attacks intensify and Middle East energy exports stagnate.
- Current low OECD SPR inventories (at 1980s levels) and refining bottlenecks make the market highly vulnerable to further supply shocks.
AI Summary
Goldman Sachs' Daan Struyven discusses the potential for Brent crude prices to reach $120 per barrel, citing escalating geopolitical risks in the Middle East. While continued Persian Gulf oil exports remain the base case, intensified attacks on shipping and energy infrastructure could lead to supply stagnation, pushing prices higher amid already low global inventories and refining bottlenecks.
Model Analysis Breakdown
| Model | Sentiment | Confidence |
|---|---|---|
| Gemini 2.5 Flash | Bullish | 90% |
| Consensus | Bullish | 90% |