Goldman, Rystad See Room for $120 Oil if U.S.-Iran Conflict Continues
Goldman Sachs and Rystad Energy see potential for Brent crude to reach $120 per barrel if the U.S.-Iran conflict persists. Brent futures traded around $97 on Monday, up $10 from early last month. Rystad estimates tanker traffic through the Strait of Hormuz has fallen to 4-5 million barrels per day from an average of 8 million barrels per day.
Why it matters: This bears on the theme of energy security and supply disruptions, as the Strait of Hormuz is a critical chokepoint for global oil flows.