Goldman Sachs Sticks to $80 Oil Forecast Amid Shipping Disruptions

Goldman Sachs has maintained its forecast of $80 oil per barrel for the fourth quarter of this year, despite recent disruptions in global shipping. According to a report by Detik Finance, two Saudi Arabian crude tankers reversed course in the Red Sea after being targeted by Houthi forces.

The incident highlighted vulnerabilities in global distribution, with nearly 9 million barrels of crude flowing through the Bab-al-Mandab Strait each day. Of this total, approximately 4 million barrels would face extreme rerouting difficulties during a wider blockade.

Although Houthi forces declared a maritime embargo threatening Saudi Arabia's regional exports, shipments out of the Yanbu port currently remain stable at around 5 million barrels per day.