Goldman Sachs Raises December Brent Oil Price Forecast to $105
Goldman Sachs increased its Brent crude oil price forecast for December to $105, citing substantial supply risks and escalating geopolitical threats. This adjustment is part of a broader upward revision for 2026 and 2027 price targets. While Goldman warns of potential averages reaching $130 per barrel next year, the market saw a short-term dip following the US midterms. Brent crude settled at $93.52 on 4 November 2026 after the Democratic Party won control of both the US Senate and House of Representatives.
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- ✓ Goldman Sachs raised its Brent crude price forecasts for 2026 and 2027.
- ✓ Brent crude settled at $93.52 on 4 November 2026.
- ✓ The Democratic Party won control of the US Senate and House of Representatives.
What changed
Goldman Sachs increased its December Brent oil price forecast to $105 due to geopolitical supply risks.
Live updates
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Goldman Sachs Raises December Brent Oil Price Forecast to $105
Goldman Sachs increased its Brent crude oil price forecast for December to $105, citing substantial supply risks and escalating geopolitical threats. This adjustment is part of a broader upward revision for 2026 and 2027 price targets. While Goldman warns of potential averages reaching $130 per barrel next year, the market saw a short-term dip following the US midterms. Brent crude settled at $93.52 on 4 November 2026 after the Democratic Party won control of both the US Senate and House of Representatives.
Why it matters
Oil markets are currently reacting to a combination of US political shifts and instability in the Middle East. Analysts are monitoring the Strait of Hormuz for flow disruptions that could trigger extreme price volatility. These factors conflict with long-term shifts toward clean energy, such as China's expansion of industrial plants.
What is confirmed
- Goldman Sachs raised its Brent crude price forecasts for 2026 and 2027.
- Brent crude settled at $93.52 on 4 November 2026.
- The Democratic Party won control of the US Senate and House of Representatives.
Still unconfirmed
- France is seeking to expand its nuclear footprint in Europe.
What to watch next
- Verification of oil flow data through the Strait of Hormuz
- Further Goldman Sachs updates to the 2027 oil price target
confidence 90%Sources used for this update (15)
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- Crude Oil Prices Today | OilPrice.com — Goldman Sachs Raises December Brent Oil Price Forecast to $105
- Reuters — Brent 2026 view tops $90 for first time since May as MidEast stability remains elusive
- Bloomberg — Goldman Hikes Oil-Price Forecasts on ‘Substantial’ Supply Risks
- MarketWatch — How oil prices could average $130 per barrel next year, according to Goldman Sachs
- FXStreet — Brent: Higher-for-longer price trajectory – OCBC
- sg.finance.yahoo.com — Goldman Sachs resets oil price target for 2027
- discoveryalert.com — Why Hormuz Oil Flows Look Both Normal and Collapsed
- asia.nikkei.com — US midterms live: Wall Street rallies as Trump signals cooperation
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