Oljeprisen nærmer seg 100 dollar
– Markedene priser i større grad inn en langvarig konflikt i Midtøsten, mener storbank.
The oil price is edging closer to 100 dollars, following the escalation of conflicts in the Middle East. Oil and gas prices have risen sharply over the past two weeks, particularly after the US and Iran launched attacks on each other. Brent spot price reached 98.6 dollars on Tuesday, up 1.4 percent for the day. Gas prices in Europe are at 75 euros per megawatt-hour, up more than 2 percent.
Goldman Sachs predicts the Brent price will hit 85 dollars in December and 80 dollars in 2027, both up 5 dollars from previous estimates. The price hike could reach 120 dollars if attacks on ships in the Middle East increase, according to Goldman Sachs analyst Daan Struyven. Analysts say the recent escalation of the conflict could limit oil supply from the Middle East, affecting production levels until early 2027.
The conflict has reduced shipping through the strategic Hormuz Strait, where about 20 percent of global oil supply usually passes. The US and Iran have both escalated their attacks in the region over the past two weeks, with the US attacking three Iranian tankers and Iran hitting two US Navy ships. Additionally, Saudi Arabia has faced attacks on oil facilities and refineries from the Houthi militia, backed by Iran.
Written by urgent.news from E24 Norway's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
