Brent crude has crossed the $100-a-barrel mark, and CNBC reports that analysts see conditions that could push prices toward $120.
Key facts
- Brent crude has topped $100 a barrel, according to CNBC.
- CNBC's report flagged $120 as a possible next level for prices.
- Goldman Sachs issued a warning on oil prices and on so-called tank bottoms, CNBC reported.
- Goldman Sachs also expressed interest in a new natural gas-related name, per CNBC.
- Reported by CNBC on 23 July 2026.
Brent crude, the international oil benchmark, has climbed above $100 a barrel, according to CNBC. The report said the move has drawn attention to whether prices could rise further, with $120 cited as a possible next level.
CNBC reported that Goldman Sachs has warned on oil prices and on so-called tank bottoms. The bank also expressed interest in a new natural gas-related name, according to the report.
CNBC’s coverage centred on Goldman Sachs’ outlook, its warning on tank bottoms and its preference for a natural gas-related investment. The report did not set out a specific timeline for any move to $120, and further details on the bank’s reasoning were not provided in the material reviewed.
Why it matters
The $100-a-barrel level is closely watched in oil markets. CNBC's report highlights that some analysts see scope for prices to rise further, toward $120, though the timing and drivers were not detailed in the source.
Frequently asked questions
How high has Brent crude risen?
Brent crude has topped $100 a barrel, according to CNBC.
What price level are analysts watching next?
Some analysts have flagged the possibility of Brent reaching $120, per CNBC's reporting.
What did Goldman Sachs say?
According to CNBC, Goldman Sachs warned on oil prices and so-called tank bottoms, and expressed interest in a new natural gas-related name.