Goldman Hikes Oil Forecasts Again as ‘Hormuz Shock’ Builds

Goldman Sachs Group Inc. lifted oil-price forecasts as the prolonged closure of the Strait of Hormuz spurs “extreme” inventory draws.

Brent is set to average $90 a barrel in the fourth quarter, up from a previous outlook for $80, analysts including Daan Struyven and Yulia Zhestkova Grigsby said in an April 27 note. The figure for that period is now “nearly $30 higher than before the Hormuz shock,” they said, adding to recent revisions.