<2> Goldman Sachs Warns of $150 Oil Peak Amid Strait of Hormuz Disruption
<3> Global Oil Prices at Risk of Historic Spike
The global oil market is bracing for a potential price surge as Goldman Sachs, a leading investment bank, warns of a $150 oil peak. This warning comes as the bank hikes its price target for the second time in a week, citing the ongoing disruption to oil supplies through the Strait of Hormuz.
<4> < href='https://bloomberg.com' target='_blank'>Bloomberg reports that Goldman Sachs has raised its price target for Brent crude to $120 per barrel, up from $100 previously. This move is seen as a direct response to the ongoing tensions in the Middle East, which have led to a significant reduction in oil supplies.
<5> The Strait of Hormuz, a critical waterway that connects the Persian Gulf to the Gulf of Oman, has been the site of several incidents in recent weeks, including the seizure of a tanker by Iranian forces. This has led to concerns that the strait may remain closed for an extended period, potentially leading to a global oil shortage.
<6> If the Strait of Hormuz remains shut through March, a 2008-type price spike is possible