Goldman warns Brent could top $120 in Q4 if Strait of Hormuz disruptions persist

Goldman Sachs flagged a material upside risk to Brent if Strait of Hormuz disruptions persist, highlighting vulnerability in a critical global oil chokepoint. The headline elevates near-term geopolitical risk premia across energy markets and can tighten inflation expectations, pressuring rates and risk assets while supporting energy-linked exposures. Volatility may rise as traders reprice supply-disruption probabilities into crude and refined products.