Goldman Sachs says soaring oil prices are already eroding global demand, partially offsetting supply shortages but creating significant uncertainty for crude prices later this year.

"We continue to expect that most of the demand destruction required to clear..."

Goldman warns of potential supply shock from Strait of Hormuz disruptions. Crude oil reaching a new all-time high by September 30 at 21.5% YES.

Goldman Sachs says soaring oil prices are already eroding global demand, partially offsetting supply shortages but creating significant uncertainty for crude prices later this…

Higher energy prices are threatening to squeeze U.S. consumers and keep inflation pressure elevated through the second half of the year.