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International Business Times
International Business Times
Business

Middle East Clashes Again Push Oil Toward $100. Goldman Sachs Raises Forecasts a Path To $120.

Goldman Sachs Oil United States Saudi Arabia
The immediate catalyst was a wave of Houthi attacks on southern Saudi Arabia, with reported strikes on energy and civilian facilities in several cities, including Jazan, Abha, Najran and Khamis Mushait. (Credit: Getty Images)

Oil prices climbed toward $100 a barrel on Tuesday as renewed attacks on Middle Eastern energy infrastructure and shipping intensified concerns about global supply. Goldman Sachs is now warning that a prolonged disruption in the Persian Gulf could send Brent crude as high as $120.

Brent crude futures rose briefly crossed $99 earlier on Tuesday before pairing some gains. U.S. West Texas Intermediate futures also climbed, topping $92 per barrel.

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