Goldman Cuts 2027 Brent Price Outlook As Weak Demand Offsets Hormuz Disruption

Overnight's fast-moving geopolitical tape has triggered a sharp unwind in crude prices, with Brent futures sliding toward $87 a barrel and WTI trading around $84 after President Trump signaled he may pause further escalation against Iran and suggested a peace deal could be close.

Daan Struyven, Goldman's co-head of Global Commodities Research and head of Oil Research, wrote in a note late Thursday evening that he kept his fourth-quarter 2026 Brent forecast at around $90 a barrel, saying the oil market remains very tight as the current deficit has been smaller than feared amid the ongoing Hormuz maritime chokepoint disruption.