Goldman Sachs: Brent may hit $120 if Hormuz issues persist
Goldman Sachs group forecasted that Brent crude oil prices could exceed $120 per barrel in the fourth quarter of 2026 if disruptions in the Strait of Hormuz and escalation in the Middle East continue. However, the bank's baseline scenario suggests that prices will be around $80 in that same quarter and $75 for the upcoming year if tensions ease. This projection is due to a decline in oil flows from the Persian Gulf to less than 45% of pre-war levels, amid military escalation between the United States and Iran, and the Houthis’ threat to impose a blockade on shipments from Saudi Arabia. Nevertheless, reduced Chinese imports and flexible demand may limit the expected increases in oil prices.
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