Oil prices: Goldman Sachs research reveals the true impact of Strait of Hormuz blockade

Brent crude surged 13% over the past week to trade above $110/barrel, and WTI topped $100/barrel for the first time since June 2022, driven by the conflict with Iran. The sharp price move signals a meaningful supply-risk shock that will put upward pressure on fuel costs and inflation, boost energy-sector revenues, and increase near-term market volatility.

Analysis

Brent crude surged 13% over the past week to trade above $110/barrel, and WTI topped $100/barrel for the first time since June 2022, driven by the conflict with Iran. The sharp price move signals a meaningful supply-risk shock that will put upward pressure on fuel costs and inflation, boost energy-sector revenues, and increase near-term market volatility.