Goldman lifts oil outlook as Hormuz disruption triggers record inventory drawdowns

Brent could average near 90 as inventories shrink fast

Goldman Sachs has increased its oil-price forecasts after the Strait of Hormuz disruption sparked severe inventory drawdowns. Analysts expect Brent crude to average around $90 a barrel in Q4, driven by large Persian Gulf production losses. The conflict is tightening global supply, accelerating record stock reductions, and raising fresh inflation risks worldwide.