Goldman Sachs Says Oil Could Hit $120 If US–Iran Shipping Attacks Intensify
Brent could fall toward $80 if Gulf exports normalize, but further tanker attacks could send prices sharply higher.
Goldman Sachs predicts oil prices could reach $120 per barrel if attacks on commercial shipping in the Persian Gulf intensify. This projection comes as escalating U.S.-Iran strikes keep crude flows below prewar levels. Brent crude has already seen a significant rise, trading near $97 per barrel.
- Goldman Sachs forecasts oil prices could reach $120 per barrel.
- The potential price hike is attributed to broadening and intensifying attacks on commercial shipping in the Persian Gulf.
- Escalating U.S.-Iran strikes are keeping crude flows below prewar levels.
- Brent crude rose to $97.17 per barrel, and U.S. West Texas Intermediate gained to $92.27 per barrel on September 7.
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