Brent crude could climb above $120 a barrel by the fourth quarter if disruptions in the Strait of Hormuz continue, Goldman Sachs Group Inc. has warned, although the investment bank said such a scenario is not its central expectation.
In a note dated July 20, analysts led by Daan Struyven said escalating tensions in the Middle East and a sharp decline in Persian Gulf oil flows had once again pushed crude prices higher.
