Oil's $27 War Premium Is Gone: Goldman Says That's Exactly Why You Should Own Commodities In 2027

Two weeks ago, oil was priced for war.

On the Friday before the midterms, Goldman estimated that $27 of every barrel of Brent was pure geopolitical fear. Then came a Democratic sweep, some Qatari phone diplomacy and the steepest weekly drop in Brent since the COVID crash, followed by another leg lower on Monday. Now, according to Goldman's commodity team, that premium is down to only a few dollars.