Banks Slash Oil Price Forecasts After U.S.-Iran Breakthrough

Morgan Stanley and Goldman Sachs cut their forecast for oil prices towards the end of the year and 2027 following developments in the peace negotiations between the United States and Iran earlier this week.

Morgan Stanley now sees Brent crude averaging $80 per barrel in the last quarter of 2026, and $90 per barrel in the third quarter, Bloomberg reported, citing a note from the bank’s commodity team.