Goldman Sachs says the conflict in the Middle East could send the oil price as high as $US150 a barrel amid growing fears that a crucial channel will remain closed for months after Iran attacked more than a dozen ships.
The Wall Street investment bank is one of a string of firms that have raised their forecasts for Brent crude after hopes of a quick resolution to the conflict subsided. It expects oil to peak at around $US150 a barrel should the Strait of Hormuz remain closed for the next two months.
