Goldman Sachs has revised its Brent crude oil price forecast downward, bringing it in line with current spot prices. The adjustment follows a major selloff triggered by a newly announced peace agreement between the United States and Iran.
The deal includes plans to reopen the Strait of Hormuz, a critical chokepoint for global energy shipments. This development has significantly reduced the geopolitical risk premium that has long buoyed oil markets.
Analysts note the market is now pricing in a stabilized supply landscape, moving past the elevated tensions that previously threatened major disruptions.