🔺Goldman Sachs: With a drop in Persian Gulf oil exports, Brent will remain between $80 and $90

▪Goldman Sachs said it expects the price of Brent crude oil to be traded in the $80 to $90 per barrel range until the confirmation of a new nuclear deal between the United States and the Islamic Republic or until a significant escalation in the fighting. The bank also estimated that Persian Gulf oil exports have risen to about 36% of pre-war levels.

▪Based on this estimate, which is based on a seven-day moving average, Persian Gulf exports in early Tir (early July) were close to 80% of pre-war levels.

▪Goldman Sachs estimated the fair value of spot Brent at around $80. Brent was trading at nearly $85 on Tuesday, while conflicting signals about the status of the talks have created uncertainty.