Crude oil prices rise for 4th session amid escalating US-Iran war; Brent likely to hit $110/bbl, says Goldman Sachs

Crude oil prices extended gains for a fourth consecutive session after fresh US airstrikes on Iranian military sites, with Brent at $85.28 per barrel and WTI at $80.02 per barrel, near one-month highs. Goldman Sachs warned Brent could climb above $110 per barrel in the fourth quarter if disruptions to Gulf exports persist, though it expects prices to fall to the $60s by year-end if tensions ease. The escalation centres on the Strait of Hormuz, with Iran threatening to keep the corridor closed until US strikes end.