Goldman Sachs Warns Oil Could Hit $120 as Shipping Risks Rise

Oil prices could surge to as much as $120 per barrel if attacks on shipping in the Middle East intensify, according to Goldman Sachs.

“Events over the last few days do suggest that the risk of shipping disruptions broadening and intensifying is an important one,” Daan Struyven, co-head of global commodities research at Goldman Sachs, told Bloomberg TV in an interview on Monday.