Goldman Sachs: Oil Could Stay at $100 Through End of 2026 If Flows Don't Normalize

Expectations that oil prices will remain at $100 until 2026 could negatively impact profitability in the energy sector. Goldman Sachs' view may harm the bank's own oil trading and financing activities. Technical indicators also point downward: MACD is negative, and the price is below both the SMA20 and SMA50. A slight decline is expected in the short term (1-3 days).

Brent crude is trading at $110.87, down 1.17% in the last 24 hours. The RSI at 40.4 is approaching the selling zone, while the price remains below both the 20-day ($113.11) and 50-day ($111.00) moving averages. The MACD is below the signal line and moving into negative territory, indicating weakening short-term momentum. Although Goldman Sachs' $100 forecast offers a long-term perspective, the current technical outlook and short-term bearish trend increase the likelihood of further pullback over the next 1-3 days. Therefore, the short-term direction is considered downward.

Goldman Sachs' forecast that oil prices could rise to $100 by the end of 2026 serves as a positive catalyst for energy sector stocks. XOM is currently trading above its 50- and 20-day moving averages, with the RSI near 60, indicating short-term upside potential. However, the MACD line is just below the signal line, and a slight decline over the past 24 hours warrants caution. While the stock is likely to move upward in the short term due to the news, excessive gains should not be expected.

Goldman Sachs' forecast that oil prices could rise to $100 by the end of 2026 serves as a positive catalyst for energy sector stocks. Chevron (CVX) is currently trading above its 50-day moving average, with an RSI of 55 in neutral territory, indicating upside potential. However, the MACD remains below the signal line, suggesting weak short-term momentum. While the news creates a medium-term bullish outlook, mixed signals from technical indicators warrant cautious optimism in the near term.