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2026-09-07 10:42:06
[Goldman Sachs: Oil Prices Could Soar to $120 if Middle East Shipping Attacks Intensify; Recommends Going Long on Natural Gas and Diesel] (1) Daan Struyven, co-head of global commodities research at Goldman Sachs, said that the events of the past few days have shown that the risk of a widening and intensifying shipping disruptions cannot be ignored; the bank has set an upside target of $120 per barrel for oil prices, and a downside target of $80 if Middle East exports return to normal (Brent crude is currently close to $97 per barrel). (2) Under the current circumstances, the United States and Iran are still in a standoff in the Strait of Hormuz, and crude oil prices have risen to their highest level since July; the United States recently attacked Iranian oil tankers, and Iran has established a new control zone outside the strait, while the US Navy continues to blockade Iranian ports and escort ships from other oil-producing countries. (3) Based on the above risks, Goldman Sachs recommends going long on natural gas and diesel to seek profits.
