Goldman Sachs Sees More Oil Gains as US-Iran Attacks Escalate

• Brent Crude prices are topping $90 due to escalating Mideast attacks, indicating a tightening market.
• Visible oil exports from the Persian Gulf have dropped from 80% of normal to below 50% following the latest escalation.
• The industry views a potential $1/barrel toll by Iran on Strait of Hormuz traffic as a 'small price to pay' to avoid war, suggesting continued upward pressure on prices.

Samantha Dart of Goldman Sachs discusses the bullish outlook for oil prices, with Brent Crude topping $90, driven by escalating Mideast attacks and significant drops in visible oil exports from the Persian Gulf. The market is tightening, and the industry is even considering a potential Iranian toll on the Strait of Hormuz as a 'small price to pay' to avoid war.