GOLDMAN SACHS WARNS OF OIL PRICE SPIKE OVER HORMUZ RISK Goldman Sachs warned that tensions in the Strait of Hormuz could disrupt oil flows and sharply raise global energy prices. If flows were halved for a month, Brent crude could briefly hit 110 per barrel, before averaging 95 in late 2025. Despite rising risks, Goldman believes strong global incentives—especially from the U.S. and China—will aim to prevent major, lasting disruptions.