Goldman Sachs Raises December Brent Forecast to $105 on Geopolitical Supply Disruption Risks

Goldman Sachs has raised its December crude oil price forecasts to $105 per barrel for Brent and $94 per barrel for WTI, up from $90 and $81, respectively. Strategists led by Daan Struyven also upgraded full-year 2027 average targets to $88 per barrel for Brent and $78 for WTI, compared with previous projections of $80 and $73. The revisions reflect persistent geopolitical tensions across the Middle East and Russia, prompting the bank to add a 1 million barrel per day disruption buffer to its 2027 outlook and citing an estimated $27 risk premium.