Global oil prices surged Monday, with Brent crude hitting $107.49 and WTI reaching $96.17, driven by stalled US-Iran peace talks and ongoing Strait of Hormuz disruptions. This supply squeeze, exacerbated by restricted shipping, has led Goldman Sachs to revise its Q4 oil price forecasts upwards, signaling continued market volatility. Global oil prices surged Monday, with Brent crude hitting $107.49 and WTI reaching $96.17, driven by stalled US-Iran peace talks and ongoing Strait of Hormuz disruptions. This supply squeeze, exacerbated by restricted shipping, has led Goldman Sachs to revise its Q4 oil price forecasts upwards, signaling continued market volatility.
