Goldman said it expected six weeks of Hormuz disruption, with Brent crude averaging $105 per barrel in March and $115 in April before retreating to $80.

Goldman said it expected six weeks of Hormuz disruption, with Brent crude averaging $105 per barrel in March and $115 in April before retreating to $80.

Economists have pulled up their risk assessments of a contraction amid heightened uncertainty over geopolitical risk and a labor market slump.

As oil steadily climbs above $100 per barrel and Iran rejects a U.S. peace proposal, Moody’s chief economist says recession odds are only getting worse.