Goldman Sachs has lowered its oil price forecasts for the second quarter of 2026 following a temporary ceasefire between the US and Iran. The bank now expects Brent crude prices to average around $90 per barrel, down from earlier projections near $99.

The revision reflects reduced geopolitical risk and early signs of oil flow resuming through the Strait of Hormuz. However, analysts caution that the ceasefire remains fragile and any renewed disruptions could push prices back above $110.

Despite the downgrade, Goldman maintained its long-term outlook, warning that supply instability and infrastructure risks still pose upside threats to global energy markets.

Source : Reuters.