Goldman Sachs: Brent Crude Could Surge Above $120 Per Barrel in Q4 If Strait of Hormuz Disruption Continues

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According to Goldman Sachs report, Brent crude could rise above $120 per barrel in Q4 if the Strait of Hormuz disruption persists, though this is not the bank's base case scenario. Under its base assumption of regional de-escalation, Goldman Sachs forecasts Brent crude at $80 per barrel in Q4 and $75 per barrel next year.

The report noted that Middle East tensions and Persian Gulf flows falling below 45% of pre-conflict levels are driving oil prices higher. Analysts highlighted that disruption risks at the Strait of Hormuz and Red Sea shipping lanes present upside risks to oil price forecasts.

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