Brent crude nears $110 a barrel as US weighs Iran proposal, Goldman raises forecast-CNBC

Brent crude futures approached $110 per barrel amid escalating geopolitical tensions as the U.S. considers a diplomatic proposal related to Iran’s nuclear program, raising concerns over potential supply disruptions from the Persian Gulf. The move higher is being reinforced by Goldman Sachs, which recently revised its oil price forecast on expectations of tighter global supply and resilient demand, particularly from Asia. This confluence of geopolitical risk and institutional bullishness is amplifying upward pressure on Brent through the risk premium and supply security channels. Energy equities and oil-linked currencies are particularly exposed, with Brent volatility likely to persist while diplomatic developments unfold. Traders are focusing on the upcoming IEA Oil Market Report and any official update on U.S.-Iran talks as near-term catalysts for direction.

Brent crude is the international oil benchmark, priced in the North Sea. Unlike WTI it reflects global supply/demand — Middle East geopolitics, OPEC+ cuts, Russian export sanctions, and Asian refinery demand all drive Brent intraday.

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