$120 Oil Ahead?

The Markets

Mar 04

Overview Shownote Highlights Transcript Chapters Pins

Shownote

The conflict in Iran has led to a significant spike in oil prices. What will determine the commodity’s next move, and how much higher could oil prices rise? Jerome Dortmans, co-head of Global Oil and Products Trading in Goldman Sachs Global Banking & Marke...

Highlights

This episode dives into the immediate market implications of escalating tensions in the Middle East, focusing on how the Iran conflict is reshaping global oil supply dynamics and investor behavior.

00:04

20 million barrels of crude and 5 million barrels of products are at risk daily

03:05

Diesel, jet fuel, and light ends like LPGs, NGLs, and condensates are most at risk

06:21

The short in the market is now China and India, and the calculus of U.S. policy has changed

09:25

If the situation escalates, oil could trade between $100 and $120

Chapters

Why did oil jump $10—and what’s really at stake in the supply chain?

00:00

What makes $100 oil feel inevitable right now?

03:05

Why are investors selling instead of hedging—and what does that mean for inflation?

06:21

Could prices really hit $120—and what would push them there?

09:25

Transcript

Chris Hussey: This is The Markets. I'm Chris Hussey, and today is Tuesday, March 3rd, and I'm here on the Goldman Sachs trading floor. With Jerome Dortmans, who is co-head of Global Oil and Products Trading. Let's cut to the chase. Oil's up about $10 a bar...