DUBAI: Goldman Sachs Group Inc flags the possibility of higher oil and gas prices after the United States struck Iran, even as the bank’s base-case outlook hinges on major disruptions to supplies from the region.
If oil flows through the Strait of Hormuz drop by half for a month, and remained 10% lower for another 11, Brent would spike briefly to as much as US$110 a barrel, analysts said in a note.
