(BOE Report)– Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent developments. “Increasing pressure on Russia and Iran sanctioned oil supply poses an upside risk to our price forecast, especially given
Oil Price Goldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which sparked a massive selloff in equity markets globally and in
BOE Report Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil demand. U.S. West Texas Intermediate slid 14 cents, or 0.17%, to $83.09. Brent crude fell 11 cents, or 0.13%, to $87.07 a barrel. Both benchmarks rose 2% on Wednesday to their highest in
BOE Report Oil was steady on Thursday but weak U.S. economic data raised concerns over a potential global recession and demand reduction, but benchmark prices were headed for a weekly advance after OPEC+ announced further output cuts and U.S. oil stocks dropped. West Texas Intermediate U.S. crude rose 23 cents, also 0.27%, to $80.56 a barrel. Brent crude futures rose
BOE Report Oil steadied on Thursday after a two-day decline as strike-disrupted fuel supply in France, a drop in U.S. crude inventories and a weaker dollar offset fears over the economic impact of rising interest rates. TotalEnergies was unable to make deliveries from its French refineries on Thursday because of continued strike action a day after data showing an unexpected decline in
BOE Report LONDON – Oil prices edged up on Monday in choppy trading as China’s continuation of loose monetary policy was partly offset by fears that high inflation and energy costs could drag the global economy into recession. Brent crude futures rose 53 cents, or 0.6%, to $92.16 a barrel by 1245 GMT, recovering from a 6.4% fall last
BOE Report Oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening COVID-19 curbs in China. Brent crude futures fell 51 cents, or 0.5%, to $93.78 a barrel by 0033 GMT. U.S. West Texas Intermediate crude was at $88.66 a barrel,
BOE Report Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilization campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal. U.S. West Texas Intermediate (WTI) crude futures dropped $4.25, or 5.09%, to $79.29. Brent crude
US News Oil prices rose on Friday, recouping some of this week’s losses on strong U.S. job growth data but remained on course to close the week near their lowest levels since February, rattled by worries a recession could hit fuel demand. Brent crude rose $1.46, or 1.6%, to $95.58 a barrel by 11:56 a.m. EDT (1556 GMT). U.S.
BOE Report Oil prices were up on Friday, while recession fears continued to weigh on sentiment, though worries over tight global supplies capped price declines. U.S. West Texas Intermediate crude rose $2.14, or 2.09%, to $104.32 a barrel, having settled 4.2% higher a day earlier. Brent crude futures rose $1.91, or 1.83%, to $106.14 a barrel, dropping away after
CNBC Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products. West Texas Intermediate crude, the U.S. oil benchmark, slid 9%, or $9.83, to trade at $98.60 per barrel. The contract last traded under $100 on May 11. International benchmark Brent crude shed
US News LONDON – Oil rose by more than $1 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank’s focus on curbing inflation was “unconditional”, adding to
