Goldman Sachs: Oil Prices Soar Due to Hormuz Crisis
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Goldman Sachs raises oil price forecasts due to the ongoing Strait of Hormuz closure, predicting Brent crude to average $85 and WTI $79 in 2026. The bank anticipates a significant supply shock, with potential losses of over 800 million barrels. Prices could spike to $110 in March-April, impacting Federal Reserve rate cut expectations and raising U.S. recession odds to 30%. Factors like Hormuz reopening timeline and OPEC spare capacity will influence these projections, posing challenges for consumers and central banks.
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