Goldman lifts oil-price outlook, flagging $120 crude risk
Goldman Sachs reversed recent oil-price forecast cuts and says disrupted Persian Gulf supply could create a path to $120 per barrel crude, after revising targets down earlier in summer.
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09:10:31 AM UTC
SquawkNews
By Alexander OsipovichBrent crude could surge above $120 a barrel because of intensified attacks on shipping in the Strait of Hormuz and Red Sea, Goldman Sachs warned in a new oil price forecast."Markets are increasingly pricing a prolonged Mideast conflict," the bank's analysts said in a research…
After cutting its oil price targets in the summer, Goldman Sachs has raised them again. The bank said if supply from the Persian Gulf remains disrupted, it sees a path to $120 crude. In just three months, Goldman Sachs analysts have moved from lowering their oil outlook to raising it again.