Oil prices could surge to as much as $120 per barrel if attacks on shipping in the Middle East intensify, according to Goldman Sachs. “Events over the last few days do suggest that the risk of shipping disruptions broadening and intensifying is an important one,” Daan Struyven, co-head of global commodities research at Goldman Sachs, told Bloomberg TV in an interview on Monday.
Oil prices have rallied in recent days amid the re-escalation of hostilities and jumped early on Monday in Asian trading to the highest level since mid-July,…