New Delhi, June 17 -- Goldman Sachs has cut its Brent crude oil price forecast for the fourth quarter of 2026 to USD 80 per barrel from USD 90 earlier, citing an expected faster recovery in Middle East oil supply following a deal to reopen the Strait of Hormuz.

In its latest Oil Analyst report, Goldman Sachs said it is reducing its price outlook after US President Donald Trump's announcement of an interim agreement that would lift the US blockade and reopen the Strait of Hormuz.

"We reduce our oil price forecast following President Trump's announcement of an interim deal that would lift the US blockade and reopen the Strait of Hormuz," the report said.

The investment bank said it now assumes that Persian Gulf oil exports will return to...