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The Independent UK
The Independent UK
Alex Croft

Goldman Sachs warns oil could surge to $120 a barrel if attacks on Hormuz continue

Oil prices could surge as high as $120 per barrel if attacks on Middle East shipping do not stop, Goldman Sachs has warned.

This would be the highest oil prices have hit since the US and Israel launched their war on Iran on 28 February. Brent crude, the international benchmark, peaked at $114 per barrel on 4 May.

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