"Goldman Sachs raised its Q4 2026 Brent crude forecast to $90 per barrel, citing extreme inventory draws from the prolonged closure of the Strait of Hormuz tied to the ongoing US-Iran conflict."
"BP has been the top-performing oil supermajor since the start of the conflict, with underlying replacement cost profit hitting $3.20 billion, up from $1.38 billion a year earlier."
"ConocoPhillips offers the cleanest leverage to crude, with FY 2025 revenue reaching $61.55 billion and management targeting $7 billion of incremental free cash flow by 2029."
Goldman Sachs increased its Q4 2026 Brent crude forecast to $90 per barrel, up from $80, due to significant inventory draws caused by the prolonged closure of the Strait of Hormuz amid the US-Iran conflict. Brent crude prices have surged, trading above $108 per barrel after stalled peace talks with Iran. BP and ConocoPhillips are highlighted as top energy stocks, with BP showing strong Q1 2026 results and a commitment to reducing net debt, while ConocoPhillips is positioned for significant free cash flow growth.
Read at 24/7 Wall St.
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