Goldman flags scenario oil could rise toward $120 on Middle East risks
Goldman Sachs says oil may hit as high as $120 a barrel in a scenario, noting $120 is not its base-case. The concern is Middle East shipping attacks escalating and disrupting energy delivery.
Goldman Sachs Group Inc. (GS, Financials) said oil could rise as high as $120 a barrel in a scenario it outlined, but that is not its base-case forecast. The bank said the risk is that attacks on Middle East shipping could escalate enough to disrupt energy deliveries.