Goldman Sachs: Hormuz Disruptions May Push Oil to $120
Goldman Sachs estimates indicate that the price of Brent crude oil could exceed $120 per barrel in the last quarter of this year, with an expected average of $100 per barrel next year, should supply disruptions through the Strait of Hormuz continue and Gulf production fail to fully recover by the end of 2027. Oil prices fell today due to the risks posed by tensions in the Middle East, especially amid reports of mediation efforts between the United States and Iran, and the announcement by the Houthis of a naval blockade on Saudi Arabia via the Bab el-Mandeb Strait. These developments increase the likelihood of disruptions to oil supplies from the region, which could lead to significant price hikes and threaten the global economy—particularly if there is a complete halt of Saudi exports through the strait.
Notice: This Is an AI-Generated Summary
Comments (0)