Article #257916

Warning from Goldman Sachs comes as crude shipping through strait of Hormuz falls further than bank thought

Global oil prices could breach the $100 (£74) a barrel mark within days, and reach $150 a barrel by the end of the month, without a solution ​to the severe disruption in crude flows through the strait ‌of Hormuz, Goldman Sachs has warned.

Oil exports via the vital trade route linking the world’s biggest oil producers to buyers in the global market have fallen further than the US investment bank had initially expected after the US-Israeli attack on Iran a little over a week ago.