Goldman Sachs: Increased Risk of Oil Price Upside, If the Strait of Hormuz is Blocked Long Term or Rises to Historic Levels

Goldman Sachs released a research report stating that in the short term, it is very likely that oil prices will continue to rise, as the flow through the Strait of Hormuz remains at an extremely low level. If the low flow continues to focus the market on the risk of extended interruption time, there is a chance that Brent crude oil could surpass the historical high in 2008. The bank believes that recent attacks on energy infrastructure and the risk of long-term oil prices from Middle East conflicts.