Goldman with the note.
Our thoughts are with those affected by the recent shocking attacks in Israel.
Recognizing the elevated uncertainty and incomplete information at this early stage, we note that there has been no impact to current global oil production, and that we see as unlikely any immediate large effect on the near-term supply-demand balance and near-term oil inventories, which tend to be the main fundamental driver of oil prices. We thus continue to forecast that the Brent oil price rises from $85/bbl as of Friday to $100/bbl by June 2024.
