An international oil analyst is warning global oil prices could hit US$150 a barrel if the situation in the Strait of Hormuz doesn't improve soon.

Goldman Sachs has warned Brent crude could spike to $120 per barrel if disruptions through the Strait of Hormuz persist, though its base case assumes easing Middle East tensions…

Goldman Sachs said on Monday that Brent crude could top $120 a barrel in the fourth quarter this year and average $100 a barrel next year if flows through the Strait of Hormuz…