Goldman Sachs Poll Sees Prolonged Hormuz Closure, Brent Near $110
A Goldman Sachs poll found investors increasingly price in a prolonged Strait of Hormuz closure, implying a NATO-led escort could restore oil supply sooner than expected. Meanwhile Brent crude traded near $110 and WTI around $103 as traders reacted to President Trump’s threats to resume strikes on Iran.
1. Poll Findings
A recent Goldman Sachs poll shows investors have increasingly factored in an extended shutdown of the Strait of Hormuz, reflecting concerns that regional hostilities could persist and constrict oil flows for months.
2. Oil Price Movements
Brent crude held near $110 per barrel while West Texas Intermediate hovered around $103 after a recent 0.7% decline, as market participants weighed the risk of renewed conflict in the Persian Gulf.
3. Geopolitical Risks
President Trump’s comments about potentially resuming strikes on Iran within days if peace terms are rejected heightened uncertainty, reinforcing the premium on oil prices due to possible disruptions.
4. NATO Escort Implications
Talks that NATO may escort tankers through the Hormuz corridor have fueled speculation that such a move could alleviate supply bottlenecks more quickly than markets currently expect.