Goldman Sachs Group said that if attacks on shipping in the Middle East increase further, the price of oil may rise as high as $120 per barrel, and suggests increasing gas and diesel to gain profits. Daan Struivin, co-head of global commodity research at Goldman Sachs, said in a Bloomberg TV interview: “The events of the past few days have shown that the risk of expanding the scope and extent of shipping disruptions cannot be ignored.” Since the US and Iran are still in a standoff over the Strait of Hormuz issue, crude oil prices have risen to their highest level since July. Recently, the US attacked an Iranian oil tanker, and Iran announced the establishment of a new control zone on the periphery of the strait. The US Navy also continues to block Iranian ports while providing escorts for ships from other oil producing countries. Struyven said that in addition to the optimistic target price of 120 US dollars per barrel, if exports from the Middle East region return to normal, the bank's target for oil prices is 80 US dollars. The latest price for Brent crude oil is close to $97 per barrel.

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