European gas could surge 130% if Hormuz shuts for a month, Goldman warns

March 2, 2026

Geopolitical tensions in the Strait of Hormuz are causing a significant spike in energy prices, with Goldman Sachs warning that European natural gas prices could surge by 130% if the strait is closed for a month. Additionally, Brent crude oil prices have risen nearly 10% amid ongoing conflicts, raising concerns over the stability of oil supplies from the region.

AP)

Credit: European gas could surge 130% if Hormuz shuts for a month, Goldman warns. (File/

Key Highlights

Goldman Sachs predicts a 130% increase in European natural gas prices if shipping through the Strait of Hormuz is halted for a month.
Brent crude oil prices have surged nearly 10% due to escalating conflicts in Iran.
The Strait of Hormuz is a critical transit route for over 20% of global oil.
Recent attacks on ships in the strait have brought oil shipping nearly to a standstill.
Investors are turning to gold as a stable asset during this crisis.

Business World

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

European gas could surge 130% if Hormuz shuts for a month, Goldman warns

Key Highlights

Sources

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