They don’t rule out that the price of Brent crude oil could remain in the triple digits until the end of 2027, CNN reports.
The working week on the leading exchanges ended with “green badges”: on Friday, Brent futures were trading around $108 dollars, WTI – about $95 per barrel. Prices remain high amid damage to energy infrastructure in the Middle East conflict.
High oil prices persist despite Israeli Prime Minister Benjamin Netanyahu saying his country would heed President Donald Trump’s call not to repeat attacks on key Iranian energy facilities. Israel’s strike on Iran’s South Pars field triggered the latter’s retaliation against Qatar’s Ras Laffan, the world’s largest liquefied natural gas plant, leading to a sharp rise in oil prices earlier this week.
U.S. President Donald Trump also sought to reassure Americans facing the highest gasoline prices in nearly two and a half years, saying “it will be over soon.”
The Strait of Hormuz has been in a near-total blockage for almost three weeks amid the conflict, and Goldman Sachs expects oil prices are likely to rise further. The firm warned that benchmark Brent crude could surpass its all-time high set in 2008 at around $147 a barrel if the supply disruption drags on.
In a worst-case scenario, the bank estimates Brent crude prices will be around $111 a barrel by the fourth quarter of 2027 if oil supplies across the strait remain very low for more than two months. A more favorable scenario assumes a gradual recovery of oil flows through the strait from April, which would lower the Brent price to $70 by the fourth quarter of 2026.
