Oil Could Hit $120 a Barrel as Middle East Shipping Attacks Escalate, Goldman Sachs Warns
TLDR
- Goldman Sachs says oil could reach $120 a barrel if Middle East shipping attacks intensify
- Downside scenario puts Brent crude at $80 a barrel if regional exports normalize
- Goldman recommends long positions in natural gas and diesel rather than crude oil
- Brent crude is currently trading around $97.55, up over 1% on the day
- China is seen as a stabilizing force in crude but not in gas or refined products
Goldman Sachs has warned that oil prices could surge to $120 a barrel if attacks on shipping in the Middle East continue to escalate. The bank also said prices could fall back to $80 if the situation calms and exports return to normal levels.
Oil may rally to as much as $120 a barrel if attacks on shipping in the Middle East increase, according to Goldman, which recommended bets on natural gas and diesel as a way to capture gains https://t.co/Ip0QykuoxF
- Bloomberg (@business) September 7, 2026
Daan Struyven, Goldman’s co-head of global commodities research, spoke to Bloomberg TV over the weekend. He said recent events show that the risk of shipping disruptions broadening and intensifying is a real concern.
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