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Brent crude tops $100 a barrel, setting up a push toward $120

Goldman Sachs has cautioned that oil prices could keep rising, with a potential path toward $120 a barrel.

Reported · Written up by our desk · Energy

Brent crude has moved above $100 a barrel, extending strength in the oil market, according to CNBC Markets. The outlet highlights Goldman Sachs’ view that the next area of focus for prices could be around $120.

CNBC Markets points to Goldman’s warnings on the outlook for oil prices, framing the move higher as part of a broader market shift rather than a one-off spike.

The report also notes the concept of so called tank bottoms, a term used in market commentary to describe trough conditions for inventories or storage-related dynamics, and it ties the broader analysis to the next phase for energy pricing.

CNBC Markets adds that the bank’s discussion includes a natural gas-related angle as part of its wider energy complex view.

Latest closeWTI crude $87.52 ▲3.1%|Brent $94.43 ▲3.8%|Nat gas $2.883 ▲0.6%

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