The Guardian – International Trade

Oil Prices ‘Could Breach $100 a Barrel Within Days’ Amid Supply Disruption From Iran War

Goldman Sachs warned that global oil prices could breach $100 a barrel within days and climb to $150 by month‑end if the Strait of Hormuz remains blocked. Iran’s effective blockade has cut crude flows through the strait to roughly 10% of normal levels, far below the bank’s earlier 15% estimate. The disruption follows the recent US‑Israeli attack on Iran, pushing prices up more than 50% year‑to‑date from $60 in January. Regional storage limits and threats to tankers exacerbate the risk of production shutdowns across Gulf exporters.