Reported 1 day ago
With the escalating conflict between Israel and Iran, oil prices are predicted to exceed $90 per barrel, following a significant increase recently. Analysts from Goldman Sachs suggest that a broader conflict might disrupt Iranian oil supply by 1.75 million barrels per day, potentially leading to substantial price hikes. Although fears of sustained high prices persist, the analysts warn that demand destruction could limit the effects on the market as consumers may not sustain high pricing levels. The situation remains fluid as Iran retaliates and further actions are anticipated.
Source: YAHOO