Goldman Sachs warns oil could hit $120 amid Strait of Hormuz tensions

Goldman Sachs has indicated that oil prices could reach $120 per barrel if the Strait of Hormuz experiences continued disruptions. The warning comes as tensions escalate in the Middle East, with geopolitical factors potentially affecting oil supplies. The Strait of Hormuz is a critical passage for oil shipments, and any significant issues there could lead to substantial price increases. This is important for investors as rising oil prices can impact inflation and economic stability, influencing market performance.