Goldman Sachs Says Oil Could Hit $120 as Trump Dismisses Diplomacy with Iran

Goldman Sachs analysts are warning that crude oil could climb to $120 per barrel amid escalating U.S.-Iran tensions, with Brent currently trading near $97. The bank's outlook reflects concerns that the Trump administration's shift away from diplomatic engagement with Iran could broaden regional conflict, raising energy supply risks. Bitcoin is holding near $79,000 as markets absorb the geopolitical uncertainty.

Higher oil prices historically create inflationary pressure that can ripple across financial markets, including crypto assets. The forecast underscores how traditional commodity volatility and geopolitical events continue to influence broader market sentiment.

• Goldman Sachs projects oil reaching $120 amid widening Iran tensions tied to reduced U.S. diplomatic efforts.
• Brent crude is currently near $97, leaving room for a significant move higher if conflict escalates.
• Geopolitical risk is a recurring market driver; oil shocks can pressure risk assets including crypto.