Goldman Flags $100-Plus Brent If Hormuz Shut Another Month

Brent crude is set to average more than $100 a barrel through 2026 if the Strait of Hormuz remains closed for another month, according to Goldman Sachs Group Inc.

“The situation remains fluid,” analysts including Daan Struyven said in a note after the start of a two-week ceasefire between the US and Iran, noting comments from Vice President JD Vance that the truce was fragile. “We continue to see the risks to our price forecast as skewed to the upside.”