Goldman Sachs Group Inc. lifted its oil-price forecasts as the prolonged closure of the Strait of Hormuz spurs “extreme” inventory draws.

Brent is expected to average $90 a barrel in the fourth quarter, up from a previous outlook for $80, analysts including Daan Struyven and Yulia Zhestkova Grigsby said in an April 27 note. The bank also hiked forecasts for the current and third quarters, the latest in a series of revisions.