Goldman Boosts WisdomTree Brent Crude Target to $110 After 21-Day Oil Disruption
Goldman Sachs extended its estimated Strait of Hormuz oil export disruption to 21 days from 10 days, doubling the previous forecast. The firm raised the WisdomTree Brent Crude Oil price target to $110 for March while downgrading Asian GDP forecasts by up to 0.5 percentage point and noting $15 billion in equity outflows.
1. Oil Disruption Forecast Extended
Goldman Sachs commodities analysts have more than doubled their duration estimate for reduced oil exports through the Strait of Hormuz to 21 days, up from a 10-day forecast. This reflects heightened geopolitical risk and tighter supply expectations for Brent crude over the coming month.
2. Brent Crude Price Target Raised
In response to the prolonged disruption, the firm lifted its WisdomTree Brent Crude Oil price target to $110 for March. This adjustment signals expectations of sustained upward pressure on global oil benchmarks as supply constraints persist.
3. Regional Growth and Outflows Hit
Analysts have cut GDP forecasts for most Asian economies by 0.3 to 0.5 percentage points and highlighted $15 billion of equity liquidations across emerging markets. India and the Philippines led declines with 5% drops each, while Korea and Taiwan saw $7 billion and $5.4 billion in outflows, respectively.