Goldman Sachs Significantly Raises Brent Crude Average Price Forecast, "Electric Donkey" Stocks Remain Active, Xinri Shares Hit 2-Day Limit Up

(Source: Caixin)

Goldman Sachs analysts have raised their forecast for Brent crude oil prices in March and April from the previous $98 per barrel to $110 per barrel, a price more than 60% higher than the average price in 2025.

On March 24, the electric two-wheel vehicle sector was active at the market open, with Sunward Shares (603787.SH) hitting the limit-up for two consecutive days. Zhongyuan Tong (301516.SZ), Wangcheng Technology (920896.BJ), Linhai Shares (600099.SH), Meixin Yishen (920833.BJ), and Jinfei Kaida (002863.SZ) also saw gains.

In recent days, tensions in the Middle East have continued to escalate, leading to a sharp rise in international oil prices. On March 23, Iran denied engaging in dialogue, and international oil prices continued to climb. At the time of writing, Brent crude oil rose nearly 3%, trading at $102.93 per barrel. According to CCTV News, Iran’s local time on March 24, U.S. and Israeli forces attacked two energy infrastructure sites in central Isfahan and southwestern Hormozgan. Reports indicate that the natural gas company building and gas pressure reduction station in Isfahan were targeted, with some facilities and nearby residences damaged.

Market analysts believe that rising fuel costs may accelerate the shift from fuel-powered motorcycles to electric two-wheelers, especially in overseas markets such as Southeast Asia, further boosting demand for electric two-wheel vehicles.

Last week, amid escalating Middle East geopolitical conflicts and rising energy prices, U.S. crude oil futures prices declined by a total of 0.40%, while Brent crude futures prices increased by 8.77%. Since the outbreak of the conflict, U.S. crude oil futures have risen by over 46%, with Brent crude futures approaching a 55% increase.

On Monday, IEA Director Fatih Birol stated that more than 40 energy assets across nine Middle Eastern countries have suffered “severe or very severe” damage due to the war. The impact is comparable to the two major oil crises of the 1970s combined with the natural gas disruptions caused by the Russia-Ukraine conflict in 2022. On the same day, Goldman Sachs analysts raised their forecast for Brent crude oil prices in March and April from $98 per barrel to $110 per barrel, a price more than 60% higher than the 2025 average. If the severe restriction of oil transportation through the Strait of Hormuz persists for 10 weeks, Brent crude could surpass the $147 per barrel record set in 2008.

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