Svmuu News Goldman Sachs The group released a report stating that if disruptions in the Strait of Hormuz continue, Brent crude prices could rise above $120 per barrel in the fourth quarter. However, Goldman Sachs also emphasized that this is not its baseline forecast scenario.The report states: “Escalating tensions in the Middle East, coupled with estimates that traffic in the Persian Gulf has fallen to less than 45% of pre-war levels, are driving oil prices higher.”
Based on Goldman Sachs’s current baseline assumption—that tensions in the Middle East will ease—the forecast price for Brent crude is $80 per barrel in the fourth quarter and $75 per barrel next year.Nevertheless, analysts noted that given the potential for shipping disruptions in both the Strait of Hormuz and the Red Sea, the risks to oil price forecasts are “skewed to the upside.” (Jin Shi)