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<Research>G Sachs: If Oil Transport Through Strait of Hormuz Remains Depressed This Mth, Oil Prices May Surpass Historical Highs
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Goldman Sachs' base case oil price forecast for Brent crude oil is to remain in the USD80 range for March, and in high of USD70 in 2Q, with steep upside risks rapidly expanding. If there are no signs of gradual recovery in oil flow through the Strait of Hormuz in the coming days, the oil price forecast will be reassessed. Based on analysis, developments, and the scale of impact, if there are still no signs of resolution next week, oil prices may break atop USD100. If the crude oil transport volume through the Strait of Hormuz remains depressed throughout March, oil prices, especially refined product prices, are likely to surpass the historical peaks of 2008 and 2022, Goldman Sachs projected. AASTOCKS Financial News Website: www.aastocks.com |
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