Goldman Sachs noted that if shipping attacks in the Middle East escalate, oil prices could climb as high as $120 per barrel; the firm advised investors to position themselves in natural gas and diesel to capitalize on rising energy prices.
Daan Struyven, co-head of global commodities research at Goldman Sachs, told Bloomberg Television: “Developments over the past few days indicate that the risk of widening shipping disruptions and a worsening situation cannot be ignored.”