Morning Call with Julián Guarino
Market prices in three weeks of conflict, but damage in the Persian Gulf will last months
Goldman Sachs projects Brent crude at $85 for April, assuming a short disruption in the Strait of Hormuz. But even with an immediate ceasefire, the energy infrastructure hit in Qatar, Saudi Arabia and the United Arab Emirates will take months to recover. In Friday’s Shale24 Morning Call, the analysis identified the gap between what prices are discounting and what the actual damage implies as the central risk the market has not yet fully priced in.