Goldman Sachs has lowered its oil price forecasts after President Donald Trump announced that an Iran deal, to be signed this Friday, will pave the way for the Strait of Hormuz to reopen to oil tanker traffic.
The bank now expects Brent crude to average $80 per barrel in the fourth quarter of this year, down from its previous projection of $90. Its 2027 average price forecast was also revised lower to $75 from $80. West Texas Intermediate (WTI) crude is now projected to average $75 in the fourth quarter and $70 in 2027.
Analysts believe tanker traffic through the Strait of Hormuz will normalize quickly once the waterway reopens. Prior to the Iran conflict that began in late February, the strait accounted for roughly 20% of global oil flows.
Lower-than-expected oil prices could ease inflationary pressures and reduce the likelihood of aggressive interest rate hikes by major central banks and offer support to risk assets, including cryptocurrencies.
Bitcoin (BTC) traded above $66,000 as of writing.
UNI, the native token of Ethereum’s largest decentralized exchange Uniswap, jumped 12% to $2.92 in the last 24 hours.
The rally comes as Standard Chartered initiated coverage on the token with a bullish $100 price target by end-2030, implying roughly 40x upside from the ~$2.50 level at the time of the report.
According to the bank’s Global Head of Digital Assets Research, Geoff Kendrick, Uniswap is uniquely positioned to benefit from the expected explosion in tokenized assets on decentralized finance (DeFi).
“We expect the value of tokenised assets active in DeFi to grow 37x between now and end-2030,” the report states. “Uniswap is uniquely positioned to scale to meet this opportunity, in our view.”
Kendrick added that if Uniswap successfully commercializes and builds significant TradFi partnerships:
“Its market cap-to-transaction fees multiple is likely to increase, narrowing the gap with Coinbase.”
The report forecasts UNI reaching $6.50 by end-2026, scaling up to $100 by 2030, potentially outperforming both Bitcoin and Ethereum over that period.
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