Goldman Sachs Warns of $120 Oil as Mideast Shipping Risks Escalate
Goldman Sachs is signaling a potential surge in crude oil prices to $120 a barrel if attacks on Middle East shipping lanes continue to escalate. The warning follows sustained volatility The post Goldman Sachs Warns of $120 Oil as Mideast Shipping Risks Escalate appeared first on Ventureburn .
Goldman Sachs warns crude oil may reach $120 per barrel if Middle East shipping risks worsen. This follows ongoing U.S.-Iran tensions in the Strait of Hormuz, where naval forces have blocked ports and Tehran has imposed restricted zones. Co-head of global commodities research, Daan Struyven, predicts a potential spike in prices, with Brent crude currently at $97.
Goldman suggests investors hedge against geopolitical risks by investing in natural gas and refined-oil products, as supply shocks are more pronounced in these sectors than in crude markets. While China influences crude imports, it lacks the same impact on gas and refined products.
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