New warning on oil: Goldman Sachs says crude prices could cross $120
Goldman Sachs analysts warned that Brent crude prices could exceed $120 per barrel in the fourth quarter if disruptions in the Strait of Hormuz persist. The decline in global oil inventories during the second quarter has heightened the market's vulnerability to supply disruptions, contributing to recent price volatility. Although this scenario is not the bank's central forecast, it reflects ongoing tensions between the US and Iran that have pushed Brent prices above $91 a barrel.