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Goldman Sachs Warns Oil Could Hit $120 as Shipping Risks Rise
Goldman Sachs said crude could reach $120 a barrel if Middle East shipping attacks widen, while recommending natural gas and diesel bets.
- Goldman Sachs warned on Monday that oil prices could rally to $120 a barrel if Middle East shipping attacks intensify, though prices may fall to $80 if regional exports normalize.
- Hostilities escalated recently after the IRGC targeted two warships with ballistic missiles, prompting strikes on Iranian oil tankers in retaliation. This conflict has heightened concerns of prolonged supply disruptions.
- Early on Monday, Brent Crude traded at over $97 per barrel while WTI Crude rose above $92, nearing the $100 threshold. Prices rallied amid the re-escalation of hostilities.
- Iranian parliament speaker Mohammad Bagher Qalibaf warned future retaliations will be "faster, heavier and more painful," while Mohsen Rezaei, head of the Supreme National Security Council, announced a new "exclusion zone" in the Persian Gulf.
- Goldman sees "meaningful upside to crude oil prices," though Struyven advised investors to prioritize natural gas and diesel. The bank noted that in fuel sectors, "the supply shocks are bigger than in the crude market.
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The IndependentReposted by 
The Independent (US)
The Independent (US)Goldman Sachs warns oil could surge to $120 a barrel if attacks on Hormuz continue
Brent crude oil prices are on track to surpass $100 per barrel for the first time since July
·London, United Kingdom
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Things could go from bad to worse for oil prices, which have already had a wild 2026
·Copenhagen, Denmark
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Oil prices may reach $120 with escalation in the waters of the Middle East, Bloomberg reports, citing analysts at Goldman Sachs bank
Oil prices may reach $120 with an escalation in the waters of the Middle East, Bloomberg reports, citing analysts at Goldman Sachs bank.On September 1, Trump announced that the US Armed Forces had attacked Iranian facilities in response to...
Goldman Sachs also predicts that the brent can reach $80 per barrel if exports in the region return to normal.
·Lisboa, Portugal
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Brent has risen almost 8% in a week, while ship traffic in the Straits has fallen to its lowest levels since May.
·Marousi, Greece
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Total News Sources36
Leaning Left2Leaning Right5Center5Last UpdatedBias Distribution42% Center, 42% Right
Bias Distribution
- 42% of the sources are Center, 42% of the sources lean Right
42% Right
L 16%
C 42%
R 42%
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