Goldman Sachs: If the Strait of Hormuz Disruption Continues, Brent Oil Could Rise Above $120 in Q4

Odaily Planet Daily News: Goldman Sachs released a report stating that if the disruption at the Strait of Hormuz persists, Brent crude oil prices could rise above $120 per barrel in the fourth quarter. However, Goldman Sachs also emphasized that this is not its base case scenario. The report stated: "The escalation of the situation in the Middle East, along with estimates that flows through the Persian Gulf have fallen to less than 45% of pre-war levels, have driven the rebound in oil prices."

Under Goldman Sachs' current base case assumption that the situation in the Middle East will ease, Brent crude oil is forecast at $80 per barrel for the fourth quarter and $75 per barrel next year. Nevertheless, analysts pointed out that the risks to the oil price forecast are "skewed to the upside," given the potential for shipping disruptions in both the Strait of Hormuz and the Red Sea. (Jin Shi)