Goldman Sachs has warned that weak oil demand in the Chinese and European markets poses a significant threat to its previous crude price forecasts for the fourth quarter, despite ongoing geopolitical tensions in the Middle East. The bank noted that its earlier projections of $90 for Brent and $83 for WTI are facing mounting pressure due to declining fuel consumption and weak petrochemical demand in Asia. The report highlighted a noticeable drop in vehicle fuel consumption in Europe and China, alongside lower Indian demand, which could reduce price forecasts by approximately $10 per barrel. Concurrently, cautious market optimism regarding a potential long-term agreement between Washington and Tehran has prompted investors to reduce their positions in the oil market.