Business · 21 July 2026

Goldman Sachs warns oil could hit $120 a barrel by year-end

Unsplash / Maksym Kaharlytskyi

The ongoing Middle East conflict and potential prolonged closure of the Strait of Hormuz are driving the price increase. Goldman Sachs' commodity analysts said that rising tensions and reduced Persian Gulf oil flows are pushing prices up again. The warning comes after the investment bank previously predicted an oil surplus earlier in July.

By BriefTea Editorial · 21 July 2026 at 12:28

Reported by Crude Oil Prices Today | OilPrice.com · How we write briefs

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