News
The day at a glance · 3 min read
Mood · Risk-On
+72
Sentiment, −100 to +100
Goldman Q4 2026 Brent Forecast
$90+$10
Brent Current Trading
$108
NYSE Energy Sector Index
+1.4%+1.4%
Key driverGoldman Sachs raised Q4 2026 Brent crude forecast to $90/barrel on extreme inventory draws from prolonged Strait of Hormuz closure
Daily briefEnergy· Money365.Market AI ·

Energy Rallies on Goldman's $90 Brent Call; HAL Surges 7%

Halliburton beats Q1 on international strength; Goldman raises Brent forecast amid Hormuz closure; sector gains 1.4%

Energy Market Overview

Bullish
CVX
The energy sector posted broad gains with the NYSE Energy Sector Index rising 1.4% as Goldman Sachs raised its Q4 2026 Brent crude forecast to $90 per barrel from a prior $80 forecast. The investment bank cited extreme inventory draws from the prolonged closure of the Strait of Hormuz tied to the ongoing US-Iran conflict, with Brent already trading above $108 per barrel.
Chevron ($CVX) closed at $188.36, down 10.8% over the past 30 days but up 20.8% year-to-date and 41.3% over the past year, reflecting ongoing volatility in large-cap energy names.

Oil & Gas Majors

Bullish

Occidental Close

$58.61+2.34%

Chevron 7-day Return

+1.3%+1.3%
OXYCVX
Occidental Petroleum ($OXY) reached $58.61, posting a 2.34% gain even as broader markets fell.
$CVX recently closed at $188.36 with a 1.3% return over the last seven days despite the 10.8% monthly decline, as investors weigh valuations in large integrated energy companies against a backdrop of geopolitical supply disruptions. Analysts note that countries like Venezuela, Argentina, and Brazil are ramping up output, signaling a long-term shift in global supply toward the Western Hemisphere under U.S. direction.

Oilfield Services & Midstream

Bullish

Halliburton Q1 Revenue

$5,402M

Halliburton Q1 Net Income

$461M

Halliburton EPS

$0.55

Phillips 66 Q1 Earnings

$207M

Halliburton Stock

+7.0%+7.0%
HALPSX
Halliburton ($HAL) surged 7.0% after reporting Q1 2026 revenue of $5,402 million and net income of $461 million, with earnings per share from continuing operations of $0.55, exceeding analyst expectations. The company highlighted new international contract wins, including a multi-year agreement with YPF in Argentina, while repurchasing approximately 2.90 million shares for $100 million as part of its ongoing buyback program.
Phillips 66 ($PSX) reported first-quarter earnings of $207 million or $0.51 per share, with adjusted earnings of $200 million or $0.49 per share, and formally increased Sweeny NGL fractionation capacity and Freeport LPG capacity. Oneok delivered earnings and revenue surprises of 3.18% and -0.69%, respectively, for the quarter ended March 2026.

Renewables & Clean Energy

Bearish
ENPHVLODVN
Enphase Energy ($ENPH) slid 4.5% after-hours following mixed Q1 results that beat EPS estimates but saw a slight revenue miss, as investors weighed a weak outlook amid a 20.6% year-over-year revenue decline. The solar inverter manufacturer faces headwinds as the residential solar market continues to face demand pressures. Zacks upgraded Valero Energy ($VLO) to Rank #1 (Strong Buy) on its growth stocks list, while Devon Energy ($DVN) made the value stocks list with the same Strong Buy rating.

OPEC & Geopolitics

Bullish

Goldman Q4 Brent Forecast (New)

$90+$10

Goldman Q4 Brent Forecast (Prior)

$80

Brent Current Price

$108
Goldman Sachs raised its Q4 2026 Brent crude forecast to $90 per barrel on April 27, 2026, up from a prior $80 forecast, citing extreme inventory draws from the prolonged closure of the Strait of Hormuz tied to the ongoing US-Iran conflict. The benchmark already traded above $108 per barrel as supply disruptions intensified. Meanwhile, a new energy bloc is rising under U.S. direction as countries like Venezuela, Argentina, and Brazil ramp up output, signaling a long-term shift in global supply dynamics toward the Western Hemisphere as the Middle East continues to rebuild.

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