Goldman Sachs Group indicated that the market has "little confidence" in the ability of U.S. naval escorts for oil and natural gas vessels transiting the Strait of Hormuz to resolve the current situation.
Samantha Dart, co-head of global commodities research at Goldman Sachs, stated in an interview that the feasibility of providing naval escorts for the large number of tankers is questionable. Investors are also concerned about the effectiveness of such measures in defending against drone attacks.
Earlier this week, Goldman Sachs raised its second-quarter Brent crude price forecast to $76 per barrel, an increase of $10 from its previous estimate. However, this remains significantly below the current global benchmark price of $85 per barrel.
Dart explained that the revised forecast is based on the assumption that oil flows through the Strait of Hormuz will remain at very low levels for approximately the next five days, followed by a gradual recovery over a one-month period. She added that if disruptions in the strait persist for five weeks, Brent prices could surge above $100 per barrel.
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