Oil may hit $120 amid Middle East ship attacks
Oil prices could rise to $120 per barrel if attacks on ships in the Middle East escalate, according to Goldman Sachs analysts, citing heightened risks to maritime traffic in the region. The outlook is driven by U.S.-Iran tensions following strikes on Iranian tankers and retaliatory actions.
Consensus
- Oil prices could reach $120 per barrel if attacks on vessels in the Middle East intensify.
- If maritime exports from the region normalize, oil prices could fall to $80 per barrel.
- Goldman Sachs analysts have warned of increased risks to shipping in the Middle East due to ongoing tensions.
- The price of Brent crude has risen to a high not seen since July.
- U.S. military actions against Iranian vessels have occurred in response to attacks on U.S. assets.
- Iran has declared a new restricted zone beyond the Strait of Hormuz.
- The U.S. continues to block Iranian ports and escort ships of other exporters.
Points of divergence
- Iran announced the complete closure of the Strait of Hormuz. — kommersant
- President Donald Trump claimed that 28 Iranian ships were destroyed on September 2. — vedomosti
- President Donald Trump threatened Iran with total destruction if it continues attacking the U.S. — vedomosti
- The price of diesel fuel has more than doubled this year. — vedomosti
- The U.S. Department of Energy expects a decrease, not an increase, in fuel prices. — vedomosti
- Trump said U.S. forces struck Iranian targets in response to an 'unsuccessful attempt' by Iran to mine the Strait of Hormuz and an attack on a U.S. military base in Jordan. — tg_tass_agency
Coverage (5 sources)
- Goldman Sachs allowed oil to rise to $120 per barrel with new attacks on tankers in Iran — The Bell
- In Goldman Sachs, a jump in oil prices to $120 is expected due to escalation in the Middle East — Коммерсантъ
- Analysts named a scenario in which oil will rise to $120 per barrel — Ведомости
- Possible oil prices named in case of escalation in waters of the Middle East — Вести
- Oil prices may reach $120 amid escalation in the waters of the Middle East, Bloomberg reports citing analysts... — ТАСС (Telegram)