Oil prices could shoot up $20 per barrel if Iranian production sees a hit, said Goldman Sachs.
Oil prices could shoot up $20 per barrel if Iran ian production sees a hit resulting from Israel i retaliation, said Goldman Sachs.
It is estimated that "if you were to see a sustained 1 million barrels per day drop in Iranian production, that you would see a peak boost to oil prices next year of around $20 per barrel," Daan Struyven, Goldman Sachs' co-head of global commodities research, told CNBC's "Squawk Box Asia" on Friday. However, the sentiment could be shifting this week. U.S. crude oil prices just saw a third consecutive session of gains after Iran launched a ballistic missile attack on Israel, heightening tensions in the region. In recent days,Iran, which is a member of OPEC, is a key player in the global oil market.
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