Oil prices are having a party… and everyone’s invited! Middle East tensions have turned the Strait of Hormuz into a one-way street (closed!), sending Brent crude into a loop-de-loop of panic.
Goldman Sachs, your friendly neighborhood financial soothsayers, just cranked up their Brent forecast like a kid on a sugar high. With the Hormuz Strait shut tighter than a bull’s behind, they’re warning of “extreme” inventory draws-because who needs stability when you can have chaos?
Goldman’s Q4 Brent Forecast: $90? Please, That’s Just Warm-Up Cash
In a note so urgent it probably skipped the printer and went straight to a megaphone, analysts Daan Struyven and Yulia Zhestkova Grigsby declared Brent will average $90 per barrel in Q4. That’s a 12.5% jump from their previous guess-because why settle for $80 when you can gamble on $90? Goldman also tweaked their Q2 and Q3 numbers upward, because apparently, optimism is their middle name.
The real drama? Supply disruptions so intense they’re making the Persian Gulf look like a toddler’s sandbox. Goldman estimates 14.5 million barrels per day are vanishing, draining global stockpiles at a rate that’d make Niagara Falls blush. April’s inventory draws? A record-breaking 11-12 million barrels a day. That’s not a draw-it’s a hurricane in a gas tank.
The analysts warned, “Extreme inventory draws are not sustainable,” which is just a fancy way of saying, “We’re winging it.” They added that if the supply crunch lingers, we’ll need a demand drop so steep it’ll make a rollercoaster look tame.
“We now assume Gulf exports will normalize by end-June… maybe. Earlier, we said mid-May. Also, production recovery? Slow. The economic risks are larger than our base-case, because oil prices are wilder than a caged parakeet, refined-product prices are through the roof, and shortages? Let’s just say the world’s pantry is looking… sparse,” the analysts concluded, probably while sipping espresso and eyeing the stock market like it owes them money.
Even if Hormuz reopens, the damage is done. Onshore inventory draws are now inevitable, like taxes and bad breakups. Energy markets? Panicking harder than a penguin on a trampoline.
Follow us on X for the latest chaos-because if you’re not stressed, you’re not paying attention!
🔴The Strait of Hormuz OIL SHOCK is unlike anything the world has seen before:
Total oil exports through the Strait of Hormuz have collapsed -95% from a normal pace of ~20 million barrels per day.
Prior to the war, the Strait carried as much as 23.3 million barrels per day at…
– Global Markets Investor (@GlobalMktObserv) April 26, 2026
Diplomatic efforts? A farce! President Trump canceled a Pakistan trip for envoys Steve Witkoff and Jared Kushner-probably to avoid awkward small talk. Meanwhile, Iranian Foreign Minister Abbas Araghchi jetted to Moscow for talks with Putin, because nothing says “calm” like a regional shuttle diplomacy relay race involving Pakistan and Oman.
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2026-04-27 11:06