Goldman Sachs said that Brent crude oil has risen to 95 US dollars per barrel, and the market is estimating that “it is difficult to reach an agreement in the Middle East in the short term” will continue for longer. Recently, the US and Iran attacked again after a one-month cease-fire. In the past 10 days, at least 6 oil tankers were attacked near the Persian Gulf and Red Sea, increasing the risk of damage to oil infrastructure. In terms of inventory, Goldman Sachs believes the visible data underestimates actual supply. After adjusting the forecast, it can be seen that global inventory is about 39 million barrels higher than the original data, and the rate of decline in inventory over the past 30 days is about 2.1 million b/d. However, the OECD commercial inventory has been reduced by only 19 million barrels since March, and is still close to the historical average.

Goldman Sachs said that Brent crude oil has risen to 95 US dollars per barrel, and the market is estimating that “it is difficult to reach an agreement in the Middle East in the short term” will continue for longer. Recently, the US and Iran attacked again after a one-month cease-fire. In the past 10 days, at least 6 oil tankers were attacked near the Persian Gulf and Red Sea, increasing the risk of damage to oil infrastructure. In terms of inventory, Goldman Sachs believes the visible data underestimates actual supply. After adjusting the forecast, it can be seen that global inventory is about 39 million barrels higher than the original data, and the rate of decline in inventory over the past 30 days is about 2.1 million b/d. However, the OECD commercial inventory has been reduced by only 19 million barrels since March, and is still close to the historical average.