Goldman Sachs cuts Q4 2026 Brent crude forecast to $80 from $90 as Iran tensions ease and non-OPEC supply growth creates an oversupply outlook.

Brent crude dips near $72.48 per barrel, erasing the Iran war premium as the Strait of Hormuz reopens and global demand weakens. What it means for markets.

Morgan Stanley cut its Dated Brent forecast to $90 for Q3 2026 and $80 for Q4, citing faster Strait of Hormuz supply recovery and weak Chinese demand.

Morgan Stanley slashed its Brent oil forecast to $75 a barrel, citing a looming supply glut as Strait of Hormuz traffic recovers faster than expected.

Goldman Sachs cuts Q4 2026 Brent crude forecast to $80 from $90 as Iran tensions ease and non-OPEC supply growth creates an oversupply outlook.

Crude surplus is expected to average just over three million barrels a day in 2027, Goldman said. Read more at straitstimes.com. Read more at straitstimes.com.

Crude surplus is expected to average just over three million barrels a day in 2027, Goldman said. Read more at straitstimes.com. Read more at straitstimes.com.

Goldman Sachs expects global strategic petroleum reserve rebuilding to support oil demand but says it will be overwhelmed by a large oil surplus next year.