Goldman Sachs raises Q4 Brent, WTI crude price forecast amid longer Hormuz disruption
Published on March 12, 2026.
Goldman Sachs has raised its Q4 Brent, WTI crude oil price forecasts for the fourth quarter of 2026 to $71/67 per barrel from $66/62 due to longer disruption to oil flows in the Strait of Hormuz due to the U.S.-Israeli war on Iran. The bank's analysts now assume 21 days of low Strait of Hormuz (SoH) oil flows followed by a 30-day gradual recovery, compared to the previous expectation of a 10-day disruption. They also predict daily oil prices will exceed their 2008 peak if SoH flows remain depressed through March. Goldman's models incorporate a larger policy response, including releasing 254 million barrels from the global special petroleum reserve (SPR) and 31 million of draws in Russian crude.
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