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Brent crude could top $120 by Q4 if Hormuz disruptions persist: Goldman Sachs

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  1. Goldman Sachs warns Brent crude could exceed $120 per barrel by Q4 2025 if Hormuz Strait disruptions persist.

  2. The firm retains an $80 base case for Q4, assuming de-escalation in the region.

  3. Persian Gulf crude flows have fallen below 45% of pre-war levels, according to Goldman.

  4. Risks are tilted to the upside due to sustained geopolitical tensions affecting supply.

9h ago · original ↗
Brent crude could top $120 by Q4 if Hormuz disruptions persist: Goldman Sachs · in5points