Goldman Sachs: Oil Could Top $120 a Barrel If Strait of Hormuz Disruptions Continue

Goldman Sachs analysts led by Daan Struyven warn that oil prices could surpass $120 per barrel if disruptions in the Strait of Hormuz do not ease. The bank projects an average oil price of $100 a barrel next year if tanker traffic through the waterway continues to be affected. The Strait of Hormuz is a critical transit route for a large share of global oil supplies.