Brent crude may reach $86 by year end: Goldman Sachs

Brent crude will likely reach $86 per barrel by year end, Goldman Sachs' Head of Oil Research, Daan Struyven, told Alarabiya TV.

He also predicted modest oil production from the US.

Global oil demand hit a record level in July, Struyven said, pointing out that the risks related to Russia's oil production became positive for prices.

Goldman increased the likelihood that the US and the global economy are on their way to a smooth slowdown.

The inflation rates show that the Federal Reserve is on its way to stop raising interest rates.