Goldman Sachs has raised its 2026 oil price forecasts due to escalating geopolitical tensions. The bank now predicts that by the end of 2026, Brent crude could reach $71 per barrel, and WTI crude could reach $67 per barrel, compared to previous estimates of $66 and $62 respectively. This revision is based on the expectation of a potential long-term closure of the Strait of Hormuz, which would severely disrupt oil supplies. At the same time, the conflict in Iran has caused serious supply disruptions, with Gulf oil-producing countries reducing their daily output by at least 10 million barrels, bringing oil production to its lowest level in four years.