Goldman Sachs Cuts Fourth-Quarter Crude Forecast to $80
Bloomberg 2026-06-24 12:15:48
Context: Goldman Sachs has lowered its fourth-quarter crude forecast to $80 per barrel, according to Daan Struyven, co-head of global commodities research at the firm. This revision comes after the US and Iran reached an interim peace agreement, which has contributed to a rapid decline in oil prices. The agreement has led to an increase in global oil supply, affecting market dynamics.
Key Facts
- Goldman Sachs has cut its fourth-quarter crude forecast to $80 per barrel, as reported by Daan Struyven, co-head of global commodities research at the firm.
- The revision in forecast is attributed to the US and Iran reaching an interim peace agreement, which has led to a rapid decline in oil prices.
- Daan Struyven cited three reasons for the quick decline in oil prices, stating that analysts and investors “underappreciated the flexibility” in global oil markets during the conflict.