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Tuesday, 21 July 2026
Economy

Goldman Sachs: Brent Could Top $120 If Hormuz Disruptions Persist

Talivio News · Global 1 min read
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Large tanker ships navigating the open sea under a clear sky. İrfan Simsar
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Goldman Sachs has forecast that Brent crude oil prices could exceed $120 per barrel if disruptions in the Strait of Hormuz persist, according to a report by the bank.

The bank's analysis, led by Daan Struyven, indicates that under persistent disruptions, Brent could reach the $120 threshold by the fourth quarter. However, this scenario is not Goldman Sachs' base case.

Goldman Sachs also expects oil prices to average $100 a barrel next year if traffic through the Strait of Hormuz is affected.

$120 per barrel

Potential Brent price under persistent Hormuz disruptions

The forecast of Brent exceeding $120 is not Goldman Sachs' base case.
— Goldman Sachs
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Sources

  1. bloomberg.com — Goldman Says Brent Could Top $120 If Hormuz Disruptions Persist (opens in a new window)
  2. content.dowjones.io — Oil prices could surpass $120 per barrel if disruptions in Strait of Hormuz don’t ease, says Goldman Sachs (opens in a new window)
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