Lates News

Goldman Sachs expects that if the flow through the Strait of Hormuz is interrupted, the price of Brent crude oil could rise to over $120 per barrel by the fourth quarter, but the bank does not consider this to be a base case scenario. Analysts, including Daan Struyven, stated in a report on July 20, "Escalation in the Middle East situation and the fact that oil flows in the Persian Gulf have fallen to less than 45% of pre-war levels are driving oil prices higher once again." Currently, Goldman Sachs predicts that the price of Brent crude oil in the fourth quarter will be $80 per barrel and $75 per barrel next year, with the condition that tensions in the Middle East ease. However, analysts point out that due to the risks of potential disruptions in shipping through the Strait of Hormuz and the Red Sea, these forecasts are "biased to the upside."