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Goldman Sachs says Brent would average above USD 100/bbl through 2026 if the Strait of Hormuz stays closed for another month

Goldman Sachs indicates that if the Strait of Hormuz remains closed for another month, Brent crude prices could average above $100 per barrel through 2026.

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Goldman Sachs says Brent would average above USD 100/bbl through 2026 if the Strait of Hormuz stays closed for another month

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  • Adds that the situation remains fluid after the start of a two-week US-Iran ceasefire, and that risks to its oil price forecast are still skewed to the upside.
Context

This reflects a significant risk of supply disruption in a critical oil transit route; with the situation fluid following a US-Iran ceasefire, the potential for further price increases remains likely, impacting energy markets and broader economic sentiment.

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