{"id":513786,"date":"2026-03-04T13:26:08","date_gmt":"2026-03-04T13:26:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/513786\/"},"modified":"2026-03-04T13:26:08","modified_gmt":"2026-03-04T13:26:08","slug":"goldman-sachs-hikes-q2-brent-oil-price-forecast-by-10","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/513786\/","title":{"rendered":"Goldman Sachs Hikes Q2 Brent Oil Price Forecast by $10"},"content":{"rendered":"<p class=\"speakable\">The all but halted flows via the Strait of Hormuz will deplete oil inventories in advanced economies, prompting a rise in oil prices, Goldman Sachs said on Wednesday as it hiked its second-quarter projections for Brent prices by $10 <a href=\"https:\/\/www.reuters.com\/business\/energy\/goldman-sachs-raises-q2-brent-oil-price-forecast-by-10-76-barrel-2026-03-04\/\" rel=\"nofollow noopener\" target=\"_blank\">to $76 per barrel<\/a>.\u00a0<\/p>\n<p>The U.S. investment bank also raised significantly the forecast for WTI Crude for the second quarter, expecting the U.S. benchmark price to average $71 per barrel between April and June, up by $9 a barrel compared to the previous projection.\u00a0<\/p>\n<p>Early on Wednesday in Asian trade, <a href=\"http:\/\/oilprice.com\/oil-price-charts\/#Brent-Crude\" rel=\"nofollow noopener\" target=\"_blank\">oil prices<\/a> were about $6-7 per barrel higher than Goldman\u2019s Q2 forecasts, with Brent above $83 and WTI topping $76 per barrel, as the market grapples with the now real supply risk with the stalled tanker traffic via the vital Strait of Hormuz.\u00a0<\/p>\n<p>\u201cIf Hormuz volumes were to remain flat for 5 additional \u200cweeks, Brent prices would likely reach $100, a level associated with larger demand destruction to prevent inventories from falling to critically low levels,\u201d Goldman Sachs analysts wrote in a note on Wednesday carried by Reuters.\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>Depending on the extent and duration of restrictions to transit through the Strait of Hormuz, Goldman Sachs Research\u2019s estimates of the oil price rise range from $1 to $15 per barrel, according to a Tuesday <a href=\"https:\/\/www.goldmansachs.com\/insights\/articles\/how-will-the-iran-conflict-impact-oil-prices\" rel=\"nofollow noopener\" target=\"_blank\">report<\/a> by Daan Struyven, co-head of Global Commodities Research and head of Oil Research at Goldman.<\/p>\n<p><a href=\"https:\/\/oilprice.com\/Interviews\/The-US-Just-Took-a-Giant-Step-in-The-Rare-Earth-Race-With-China.html\" rel=\"nofollow noopener\" target=\"_blank\">Related: The U.S. Just Took a Giant Step in The Rare Earth Race With China<\/a><\/p>\n<p>Oil prices could jump by $15 per barrel if the Strait of Hormuz is effectively closed for a full one month and there are no offsets such as utilization of spare pipeline capacity or releases of strategic petroleum reserves, according to Goldman Sachs.<\/p>\n<p>If Middle East producers use all estimated spare pipeline capacity to bypass the Strait \u2013 at about 4 million barrels per day \u2013 oil would jump by $12 per barrel in the event of a full one-month closure.\u00a0<\/p>\n<p>\u201cThe International Energy Agency has estimated that 4.2 mb\/d of the oil flows through the Strait of Hormuz can be redirected using existing spare pipeline capacities, implying around 16 mb\/d of oil flows are at risk from a full closure,\u201d Goldman Sachs analysts wrote.\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>By Tsvetana Paraskova for <a href=\"http:\/\/oilprice.com\" rel=\"nofollow noopener\" target=\"_blank\">Oilprice.com<\/a><\/p>\n<p>More Top Reads From Oilprice.com<a href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Trump-EPA-Set-to-Scrap-Landmark-Emissions-Policy.html\" rel=\"nofollow noopener\" target=\"_blank\"><\/p>\n","protected":false},"excerpt":{"rendered":"The all but halted flows via the Strait of Hormuz will deplete oil inventories in advanced economies, prompting&hellip;\n","protected":false},"author":2,"featured_media":513787,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[32475,45,49,48,16800,17496,203693,203690,136516,203692,203691,172000,90199],"class_list":{"0":"post-513786","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-brent-crude","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-energy-markets","13":"tag-goldman-sachs","14":"tag-middle-east-oil","15":"tag-oil-inventory","16":"tag-oil-price-forecast","17":"tag-oil-price-surge","18":"tag-oil-supply-risk","19":"tag-strait-of-hormuz","20":"tag-wti-crude"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/513786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=513786"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/513786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/513787"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=513786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=513786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=513786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}