Goldman Sachs Warns Oil Prices Could Hit $120 Amid Middle East Shipping Disruptions
Escalating security threats across Middle Eastern maritime lanes could propel crude oil prices to $120 per barrel, investment bank analysts warn.
Global crude oil prices could surge to $120 per barrel if maritime attacks in the Middle East escalate further, according to a recent assessment from Goldman Sachs.
Daan Struyven, co-head of global commodities research at the investment bank, shared the projection during an interview with Bloomberg TV on Monday. He observed that incidents over recent days indicate that the threat of broader and more intense interruptions to commercial shipping remains significant.
The commodities market has responded to heightened regional conflict with strong upward momentum. During Asian trading hours on Monday, oil values climbed to their highest marks recorded since mid-July.
The prospect of widening disruption across key maritime corridors continues to pose substantial cost and operational risks across global logistics networks, with sustained oil price gains directly affecting bunker fuel expenses for commercial vessel operators.
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