Goldman Adds 17% to Its Brent Call: Is It Actually Bullish?
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Goldman Sachs raised its December Brent crude forecast 17% to $105 per barrel from $90, citing elevated supply disruption risk. The bank's new target remains roughly 5% below the spot market, where Brent traded at $110.40 on November 2, implying Goldman sees downside rather than upside from current levels. WTI shows a similar dynamic, with the bank's forecast also sitting beneath prevailing prices. The gap between Goldman's targets and spot prices suggests the bank views current levels as overstating the risk premium rather than signaling further bullishness. Watch for whether supply disruptions materialize and whether spot prices converge toward or away from Goldman's below-market targets in the coming weeks.
Muhabbit's AI wrote this summary in its own words from BeInCrypto's report. It can get details wrong, so check the source.
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