Brent could rally to more than $120 a barrel by the fourth quarter if disruptions of the Strait of Hormuz persist, according to Goldman Sachs Group Inc. , although that’s not the bank’s base case.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-07-21/goldman-says-brent-could-top-120-if-hormuz-disruptions-persist)