Goldman Warns Brent Could Surge to $110 ...Middle East

Brent crude could rise all the way to $100 and more, peaking at $110 per barrel in case Iran closes the Strait of Hormuz, Goldman Sachs said in a new note. The investment bank said this price could materialize if oil flows via the vital chokepoint were cut by half for a month and remained 10% lower than normal over the next 11 months. This is a rather specific forecast that may not be the most likely scenario for developments of the Middle East but some disruption in oil flows seems all but certain at this point. After the initial price shock under…

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