Trump Rules Out Tolls on Strait of Hormuz

Goldman Sachs Raises Fourth-Quarter Oil Price Forecast to as High as $90; Warns Crude Production Capacity Could Be Permanently Crippled

Middle East conflict delays push up oil prices. Goldman Sachs raised its Q4 Brent forecast from $80 to $90, and WTI is also forecast at $83. It is expected that Persian Gulf crude oil exports will not recover until the end of June, and there is concern about a permanent capacity “scarring effect,” with roughly 500k fewer barrels per day. Brent spot broke above $106, and U.S. stocks hit new highs despite the strong earnings results.

Bitcoin falls below $78,000, as negotiations between the U.S. and Iran again hit a stalemate, pushing up oil prices

Bitcoin slipped below $78,000 during Asian early trading on Monday, April 27; meanwhile, with the U.S.-Iran second round of peace talks falling through again, the price of Brent crude oil rose 1% to $106.50 per barrel. U.S. crude oil (WTI) rose in tandem by 1% to $95.40 per barrel. Ether was quoted at $2,335.24, and Ripple was quoted at $1.4230.

IEA: AI infrastructure spending has already surpassed investment in oil and gas production, and is expected to increase another 75% in 2026

According to analysis and market data published by the International Energy Agency (IEA) on April 26, the combined capital expenditures of the world’s top five technology companies in 2025 exceed $400 billion, with most of the spending going toward building AI infrastructure. The scale has already surpassed the annual investment level of global oil and natural gas production. The IEA estimates that the related capital expenditures may further increase by 75% in 2026.

U.S. Economic Data This Week May Drive Crypto Market Volatility; Fed Decision and Jobs Report Key

Gate News message, April 27 — The crypto market slipped 0.5% to $2.59 trillion as investors braced for several major U.S. economic releases this week that could shape Bitcoin and altcoin price direction. Bitcoin traded near $77,800, while the Crypto Fear & Greed Index has recently moved toward the m

The Panama Canal Effect of the Port of Hormuz: Companies pay up to $4 million to get ahead of the Panama Canal

Since the stalemate in the Strait of Hormuz, global shipping companies have increasingly rerouted through the Panama Canal; without a reservation, participation must be won through auction bidding, with the highest bid reaching about $4 million. Case examples show that a ship originally bound for Europe with fuel was rerouted to Singapore, resulting in additional costs of up to $4 million. The insurance industry also classifies Hormuz as a high-risk war zone, making it difficult to return to the 2025 level in the near term; Panama has also protested Iran’s detention of MSC Francesca.

Citigroup Raises 2026 Brent Crude Price Forecasts, Eyes $150/Barrel if Hormuz Disruptions Persist

Gate News message, April 27 — Citigroup raised its price forecasts for Brent crude oil (the international benchmark for crude oil pricing) for the remainder of 2026 on Sunday evening. The bank now projects average prices of $110 per barrel for Q2, $95 per barrel for Q3, and $80 per barrel for