Goldman Sachs raises its Brent forecast to USD 100/bbl this quarter and USD 90/bbl in Q4, due to prolonged disruption in the Strait of Hormuz and extreme inventory draws

Goldman Sachs' revision of its Brent crude forecast to USD 100/bbl for this quarter signals a significant concern over supply disruptions stemming from the Strait of Hormuz, a crucial chokepoint for oil transport. This forecast adjustment, coupled with extreme inventory draws, emphasizes tightening supply dynamics that could impact inflation and currency movements, particularly in energy-sensitive economies, warranting close attention from traders in related asset classes.