Gate News Report, March 23 — Goldman Sachs’ Commodities Research Team released a report stating that high oil prices are expected to persist for a long time. Goldman Sachs predicts that oil flow through the Strait of Hormuz (a key global oil shipping route) will remain at a low level of about 5% below normal for up to six weeks before gradually returning to normal levels. Additionally, due to concerns over the risks associated with high production concentration and idle capacity, strategic reserves are expected to see structural growth, leading to higher long-term prices. Goldman Sachs currently forecasts the average price of Brent crude (the global benchmark) in 2026 to be $85 per barrel, up from the previous estimate of $77 per barrel.
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