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Brent crude oil prices are likely to stay above $100 per barrel for the rest of 2026 if the Strait of Hormuz stays shut for another month.
Goldman Sachs predicts Brent crude could average $120 per barrel in Q3 if Hormuz stays shut.
KEY POINTS
- If the Strait of Hormuz reopens soon, Goldman Sachs forecasts Brent crude at $82 per barrel in Q3.
- Iran plans to charge tolls for vessels transiting the Strait of Hormuz, escalating tensions.
- All vessel transits through Hormuz currently require coordination with Iranian armed forces.
- High-level U.S. and Iranian officials will meet in Islamabad to negotiate a lasting peace deal.
COMPANIES
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