Oil: Wall Street Giants Revise Forecasts

Major financial firms, such as Goldman Sachs and JPMorgan, are revising their forecasts for oil prices in 2026 due to the ongoing conflict in the Middle East. Goldman Sachs has raised its Brent forecast to $85 a barrel, while JPMorgan expects prices to average $100 a barrel in the second quarter of 2026. Oil prices have risen by more than 50% this month due to geopolitical tensions. Iran has warned of attacks on energy infrastructure in the event of an attack on its network, however a ceasefire was announced for negotiations.