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G Sachs: If Strait of Hormuz Remains Closed for Another Mth, Brent Oil Futures to Average Above USD100/ Barrel This Yr
2026-04-09 14:30:15 If the Strait of Hormuz remains closed for one more month, Brent oil futures prices will average above US$100 per barrel this year, Goldman Sachs said. International oil prices rebounded today (9th). Brent oil futures last elevated 2.51% to US$97.16 per barrel, while New York oil futures also leaped 3.53% to US$97.74 per barrel. The situation is still rapidly changing, and saw that the risks to its oil price forecast as skewed to the upside, Goldman Sachs added. However, at present, its base-case outlook assumes that energy shipments through the Strait of Hormuz will gradually increase starting this weekend, with exports in the Persian Gulf recovering progressively to pre-war levels within one month. Under this scenario, Brent oil futures are forecasted to average US$82 per barrel in 3Q26 and US$80 per barrel in 4Q26. ~ AASTOCKS Financial News Website: www.aastocks.com | |