Goldman Sachs Says Oil Could Hit Its 2008 Record of $147 a Barrel

Goldman Sachs analysts are projecting that oil prices could reach or surpass the 2008 record of $147 per barrel, the Financial Times reports. The bank cites a combination of geopolitical supply constraints, recovering demand, and structural underinvestment in new oil production as drivers of the bullish outlook. For the technology sector, an oil price shock at historic levels would have cascading effects: energy costs for data centers would rise substantially, logistics and manufacturing costs for hardware supply chains would increase, and the economic environment for startup investment would tighten. The prediction also arrives as hyperscalers are committing to long-term energy infrastructure deals. including natural gas. to power AI computation, making fossil fuel price forecasts directly relevant to the industry's cost structure.