Goldman Lifts Brent Forecast as Hormuz Closure Drains Global Oil Inventories

Oil prices extended their rally on Monday as stalled US-Iran peace talks raised fears of prolonged disruption to Middle East crude supplies. With the Strait of Hormuz effectively closed, Goldman Sachs has lifted its Brent forecasts, warning of “extreme” inventory draws as the global market grapples with a supply shock. Goldman Raises Q4 Brent Forecast