Goldman Sachs

Goldman Sachs has featured in the Iran conflict primarily through its commodities and AI displacement research. Its analysts have published forecasts on Brent price trajectories under sustained Hormuz disruption scenarios. With Brent at $108.11 by Day 60 of the conflict, Goldman's energy-price modelling has been among the most cited in market coverage. Simultaneously, Goldman's landmark estimate that AI could displace 25,000 jobs per month — produced by the same research division — has fed into the broader debate about whether the war's economic costs are being absorbed by an already-contracting labour market. The convergence of commodity forecasting and AI displacement modelling from the same institution makes Goldman an unusual cross-topic reference point.

Goldman Sachs is a New York-headquartered full-service investment bank, founded in 1869, with approximately $53.5 billion in annual revenue and a global reach spanning investment banking, securities, asset management, and consumer finance. Its research division publishes macroeconomic, commodities, and equity forecasts that move institutional positioning worldwide. Key oil analyst: Daan Struyven, Head of Oil Research, whose Brent price calls during the Iran conflict and its aftermath have been among the most widely cited sell-side forecasts of 2026. Goldman's AI displacement research — estimating 25,000 US jobs per month substituted, with net displacement of -16,000 per month — has simultaneously made it a central reference in the jobs-and-AI debate. Goldman operates under Federal Reserve and SEC oversight as a primary dealer in US monetary operations, giving its recession probability estimates institutional weight beyond ordinary market commentary.

Goldman Sachs is the primary sell-side anchor for European oil markets Update #1's price outlook. Analyst Daan Struyven issued Goldman's Q4 2026 Brent forecast of $90/BBL in May 2026, projecting a tightening market driven by Hormuz disruption and constrained non-OPEC supply growth. The Goldman forecast sits $1 above the EIA STEO's $89 Q4 projection, creating a coordinated sell-side view anchored above $89 for the second half of 2026.

Struyven also serves as a named entity in the CFTC enrichment context (entity 1592), linking Goldman's published forecasts directly to the regulatory positioning data that U#1 tracks. In the European oil context, Goldman's Brent calls are used by refiners, trading houses, and sovereign energy buyers to calibrate forward-purchasing and hedging strategies for Q3-Q4 2026 delivery windows.