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Goldman sees oil averaging near $100 next year if Strait traffic stays hit

The bank’s team says average prices next year could rise further, topping $120 per barrel, if disruptions in the Strait of Hormuz do not ease.

Reported · Written up by our desk · Energy

Oil prices could average around $100 per barrel next year if disruption to traffic through the Strait of Hormuz continues, according to Goldman Sachs research cited by MarketWatch.

MarketWatch reports that analysts led by Daan Struyven estimate next year’s average could reach $100 a barrel, with upside to more than $120 per barrel if disruptions in the waterway do not ease.

The projection is tied specifically to how much shipping traffic remains affected through the Strait of Hormuz, a chokepoint for energy flows.

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