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European natural gas prices could skyrocket by as much as 130% if disruptions occur in the Strait of Hormuz, Goldman Sachs has warned.
Analysts at the bank cautioned that geopolitical tensions in the region could severely disrupt supply chains, driving up costs for consumers across Europe, according to Bloomberg. The warning arrives amid heightened geopolitical uncertainty, placing energy security and market stability under significant pressure.
The Strait of Hormuz is a vital global artery, with approximately 20% of the world's oil supply passing through it. This makes the region a key factor in potential price volatility.
Goldman Sachs urged relevant parties to closely monitor developments, cautioning that any further escalation could have far-reaching consequences for the global energy landscape. The bank also emphasized the necessity of establishing contingency plans to mitigate risks associated with supply chain disruptions.
