Goldman Sachs says Brent could reach USD 100/bbl if the Strait of Hormuz remains closed for 5 more weeks
Newsquawk Staff ·
Goldman Sachs says Brent could reach USD 100/bbl if the Strait of Hormuz remains closed for 5 more weeks.
What it means
Goldman Sachs' outlook indicates that if the Strait of Hormuz remains closed for an additional five weeks, we could see Brent crude prices spike to $100 per barrel. This scenario underlines the significant impact geopolitical tensions have on oil supply, which could further fuel inflation and affect the macroeconomic landscape, particularly for commodity-linked currencies.
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
Related headlines
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects1 hour ago
- Senior US Treasury trade official Eric Ettorre will leave to join Netflix (NFLX), reports Axios1 hour ago
- US EQUITY OPEN: Indices rangebound ahead of FOMC and major earnings51 min ago
- UK DMO says gross gilt issuance planned for 2026/27 is GBP 250.6bln (exp. 249.6bln, prev. 246.2bln in April remit)1 hour ago
- Phillips 66 (PSX) Q3 2026 (USD): Adj. EPS 14.08 (exp. 11.73)4 hours ago
- Amphenol (APH) Q3 2026 (USD): Adj. EPS 0.80 (exp. 0.73), Sales 10.2bln (exp. 9.49bln)3 hours ago
- GE Vernova (GEV) expects USD 50-100mln of annual cost synergies from Trench by 2030, according to the conference call3 hours ago
- Etsy Inc. (ETSY) Q3 2026 (USD): EPS 1.00 (exp. 0.77), Revenue 692mln (exp. 668mln)3 hours ago
- Garmin Ltd. (GRMN) Q3 2026 (USD): Adj. EPS 2.76 (exp. 2.41), Revenue 1.99bln (exp. 1.99bln)4 hours ago
- Automatic Data Processing (ADP) Q3 2026 (USD): Adj. EPS 2.82 (exp. 2.77), Revenue 5.5bln (exp. 5.48bln). FY revenue growth view of 6%, adj. EPS growth view of 10-12% 4 hours ago
- Aon (AON) Q3 (USD): Adj. EPS 3.36 (exp. 3.30), Revenue 4.1bln (exp. 4.08bln)4 hours ago
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg39 min ago
- US EIA Heating Oil Stocks Change (Oct/23) 0.164M (Prev. 0.652M)31 min ago
- US EIA Crude Oil Imports Change (Oct/23) -0.796M (Prev. 0.837M)31 min ago
- EIA Cushing Crude Oil Stocks Change (Oct/23) -0.624M (Prev. 0.987M)31 min ago