10:34 - 7.09.2026

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September 7, Fineko/abc.az. U.S. investment bank Goldman Sachs warned that crude oil prices could rally to $120 per barrel if attacks on maritime shipping in the Middle East broaden and intensify. Speaking to Bloomberg TV, Daan Struyven, Co-Head of Global Commodities Research at Goldman Sachs, noted that disruptions surrounding the Strait of Hormuz present significant upside risks to energy markets.

With Brent crude currently trading around $97 per barrel, Goldman Sachs outlines a bullish target of $120 per barrel under an escalation scenario, alongside an $80 downside target should regional exports normalize. However, the bank advises investors to hedge geopolitical risks via global natural gas and refined products like diesel rather than crude oil, citing tighter market balances and sharper supply shocks in the downstream sector.