Goldman Sachs expects the price of a barrel of Brent crude to climb back to $86 in the third quarter, on the back of robust consumption and solid demand for transport and air conditioning.

In a note published on Monday, the US bank's analysts explain that they expect oil prices to continue to fluctuate between $75 and $90.

Goldman justifies the existence of a floor at $75 by the fact that demand for oil picks up again when prices tend to fall.

Conversely, the New York firm says it has identified a ceiling at $90 in the absence of worsening geopolitical unrest.

By way of comparison, Brent crude is currently trading at around $80 a barrel, and US light crude (WTI) at just over $76.

Goldman Sachs maintains its forecast of Brent crude at $82 a barrel by 2025.

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