Goldman Sachs hikes December Brent call by $15, now eyeing $105
Goldman Sachs just got a lot more bullish on oil. The bank lifted its December Brent forecast to $105 a barrel, up from $90, pointing to supply risks if the Middle East heats up after the US midterms. It's a $15 jump in one revision — and a signal that geopolitics is back on the trading desk.
Goldman Sachs isn't mincing words. The bank raised its December Brent crude forecast by $15, putting the new target at $105 a barrel, according to Cointelegraph. The old call sat at $90.
The reason: supply risk. Goldman flagged the chance of a Middle East escalation once the US midterms are in the rearview mirror, a scenario that could squeeze barrels and push prices higher.
That's a notable shift for a bank that had been modeling a calmer December. Bumping a forecast that sharply in a single move suggests Goldman sees the geopolitical backdrop as a live variable, not a tail risk.
For markets, the revision lands as a warning shot. Oil watchers will be parsing whether other banks follow Goldman's lead, and traders will keep one eye on headlines from the region as the midterm dust settles.
What happens next hinges on whether those supply fears materialize. For now, Goldman's number is on the board: $105 for December.
TopicsGoldman Sachs · Brent crude · US midterms · Middle East
Written by Paparazzi with AI. Not financial advice.