The bank said it plans to revisit its oil price forecast ​soon if it does not see evidence supporting its assumption ​of a gradual normalisation in Strait of Hormuz flows over the next few days. Goldman Sachs currently estimates that average daily flows through the Strait of ​Hormuz are down ​90 per cent. A spokesman for Iran’s Revolutionary Guards challenged US President Donald Trump to deploy US naval vessels to escort oil tankers through ​the Strait of Hormuz. “To ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil,” he added.

Source: The Telegraph March 07, 2026 23:28 UTC