Goldman: Brent oil set to average $90 a barrel in fourth quarter

Goldman: Brent oil set to average $90 a barrel in fourth quarter
Goldman lifts Brent oil price target

Goldman, industry influencer, expects Brent crude oil to average $90 a barrel in the fourth quarter, revising its earlier outlook of $80. The firm noted that this new figure is nearly $30 higher for the period compared to levels before the Hormuz shock.

The adjustment highlights Goldman's changing view on oil market dynamics following recent disruptions.

Dated Brent oil surged to a record $144.42 for real-world barrels, according to Platts data shared by Annmarie Hordern. In a separate report, Hordern noted that U.S. nonfarm payrolls climbed 178,000 last month, surpassing forecasts. These recent data releases provide further context around Goldman's revised Brent crude outlook.

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