Goldman Says Brent Could Top $120 If Hormuz Disruptions Persist
Bloomberg 2026-07-21 03:22:23
Context: Goldman Sachs Group Inc. has warned that Brent crude prices could surge to over $120 a barrel by the fourth quarter if disruptions to oil flows through the Strait of Hormuz continue. This forecast comes as a potential consequence of ongoing tensions in the region. The bank's projection is not its base case scenario, but rather a possible outcome if the current situation persists.
Key Facts
- Brent crude could rally to more than $120 a barrel by the fourth quarter if disruptions to flows through the Strait of Hormuz persist, according to Goldman Sachs Group Inc.
- The forecast of $120 a barrel is not considered the bank's base case scenario, implying that it is a potential but not expected outcome.
- The warning is specifically tied to the persistence of disruptions to oil flows through the Strait of Hormuz, a critical passage for global oil supplies.