Goldman Survey Shows Strait of Hormuz Shipping Disruptions Lasting Into Second Half
Summary
- A survey by global investment bank Goldman Sachs showed most investors expect shipping disruptions through the Strait of Hormuz to last into the second half of this year.
- Some 43% of respondents said shipping disruptions through the Strait of Hormuz would not begin to ease until after July.
- Forecasts for Brent crude clustered in the $80-$90-a-barrel range, and investors are also preparing 'short oil positions' to bet on lower prices if shipping flows recover.
Forecast Trend Report by Period
Most investors expect shipping disruptions through the Strait of Hormuz to last into the second half of the year, a Goldman Sachs survey showed.
Walter Bloomberg reported on May 8 that Goldman’s recent survey of about 840 investors found most respondents expect the disruptions to continue beyond June. Some 43% said shipping through the Strait of Hormuz would not begin to ease until after July.
Forecasts for Brent crude clustered in the $80-$90 a barrel range. Walter Bloomberg said the outlook reflects stalled US-Iran talks and concern that a prolonged supply shock could hit one of the world’s key oil shipping routes. Investors are also preparing short oil positions to bet on lower crude prices if shipping flows recover.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul