March 8, 2026

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…

Global oil prices face a sharp surge, potentially surpassing $100 per barrel within days and hitting $150 by month-end, as Goldman Sachs highlights the severe disruption in crude flows through the Strait of Hormuz, where only 10% of usual tankers are passing due to Iran’s effective blockade. This impact is calculated to be 17 times worse than the April 2022 Russian production shock that pushed prices to $110, with the bank warning that without a swift resolution, oil prices could exceed historic peaks seen in 2008 and 2022, threatening serious consequences for the global economy.

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