ArmInfo. Goldman Sachs analysts lowered their price forecasts for major crude oil grades for the second quarter of 2026 after the US and Iran agreed to a two-week ceasefire.
The bank now expects the average price of Brent crude in April-June to be $90 per barrel, while WTI crude will average $87 per barrel. Their previous forecasts were $99 and $91 per barrel, respectively.
"We have lowered our forecasts for Brent and WTI in the second quarter amid lower risk-adjusted premiums and the recovery of oil flows through the Strait of Hormuz," the bank said.
Our forecasts for the third quarter remain unchanged at $82 per barrel for Brent and $77 per barrel for WTI. In the fourth quarter, North Sea crude is expected to average $80 per barrel, while North American crude is expected to average $75 per barrel.
Goldman analysts note that the risks to the forecasts are tilted to the upside due to potential long-term supply disruptions and lost production capacity.
The experts also noted that if the ceasefire is violated and there is a long-term reduction in oil production in the Middle East of 2 million barrels per day, Brent crude would trade around $115 per barrel in the fourth quarter. (INTERFAX)
