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Brent Crude is expected to average above $100 per barrel this year if the Strait of Hormuz remains mostly shut to tanker traffic for another month, Goldman.
Goldman Sachs forecasts Brent Crude above $100 per barrel if Hormuz remains closed another month.
KEY POINTS
- Despite a ceasefire, Iran still controls Strait of Hormuz vessel flows and transit permissions.
- Goldman Sachs cut oil price forecasts after the U.S.-Iran ceasefire announcement.
- If Hormuz traffic stays limited beyond a month, Brent could average $120 in Q3 and $115 in Q4.
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