Oil at $120? Goldman Sachs Flags Risk if Shipping Attacks Intensify

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The oil price has risen sharply again. Due to new attacks by the United States and Iran, hardly any ships passed through the Strait of Hormuz this weekend. As a result, the price at the pump is also rising. The recommended price for a liter of gasoline is now above 2.71 euros. Last week, the record price for May was already surpassed. Prices are expected to rise even further. If the attacks continue and problems for shipping increase, the price…

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Goldman Sachs issues new warning about oil price trajectory as escalating tensions in the Middle East and growing disruptions in shipping

Banker.az

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Oil prices could rise to $120 per barrel if attacks on ships in the Middle East increase. Banker.az reports, citing Bloomberg, that Daan Struyven, co-chairman of global commodity research at Goldman Sachs Group in New York, USA, said. “The events of recent days suggest that the risk of shipping disruptions widening and deepening is significant,” – […]

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Brent oil could rise to as much as $120 a barrel if attacks on ships in the Middle East escalate and disruptions to shipping worsen. Bloomberg News reports, citing Goldman Sachs commodity strategist Daan Struyven.