Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd).
Oil prices rose on Monday, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest rates . Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer transport demand will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd). Brent crude futures gained 53 cents, or 0.7%, to $80.15 a barrel by 1320 GMT. U.S. West Texas Intermediate crude futures were up 57 cents or 0.8% at $76.10. "The increase in prices started as the U.S. wakes up and kicks off the new week.
Investors on the other side of the Atlantic clearly dismiss the Euro weakness and the resultant dollar strength due to French snap elections," said Tamas Varga of oil broker PVM. "There is a growing conviction that demand will be buoyant as the summer driving season approaches leading to considerable stock draws". Oil last week posted a third straight weekly loss on concerns that a plan to unwind some production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, from October will add to rising supply.
Despite the OPEC+ cuts, oil inventories have risen.
U.S. crude stocks rose in the latest week, as did gasoline stocks.
Energy consultancy FGE also expects oil to rally, with prices reaching the mid-$80s into the third quarter.
"We continue to expect the market to firm up," FGE said.
"But it will likely need a convincing signal of tightening from preliminary inventory data.
" A strong dollar weighed on the market, with the currency rallying after Friday's U.S. jobs data prompted investors to trim expectations for interest rates.
[USD/] The euro, meanwhile, fell after French President Emmanuel Macron called a snap parliamentary election.
A stronger U.S. currency makes dollar-denominated commodities such as oil more expensive for holders of other currencies.
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Maersk said its India inland transport costs have risen further after a 5% fuel surcharge introduced on 27 May 2026. A revised Export Fuel Surcharge grid is now set to apply from 1 June for non-FMC and 30 June for FMC cargo contracts, adding a fresh cost variable for shippers and inland logistics planning.
On 25 May 2026, MoRTH reviewed quality and maintenance across 10,064 km of National Highways in Rajasthan and 1,947 km in Himachal Pradesh, with directives on drainage, slope protection, preventive maintenance and faster disruption response before the monsoon cycle.
MoRTH approved a 14.9 km four-lane Thiruvarur bypass on NH-83 with two additional ROBs on 26 May 2026. The project is designed to cut urban congestion, improve safety, and strengthen connectivity between industrial clusters and Nagapattinam-Karaikal port-side movement.
MoRTH said on 27 May 2026 that the Jabalpur Outer Ring Road project, estimated at about Rs 3,540 crore across five packages, is expected to ease city congestion, reduce travel time, and lower logistics friction on NH-45 and NH-30 linked movement.
