Goldman Sachs: The price of oil already includes a risk premium of $5-6 per barrel for Iran.

Goldman Sachs Group said that the current oil price already includes a risk premium of $5 to $6 per barrel due to the potential U.S. attack on Iran. Analysts, including Julia Grisby, stated in a report on February 25th that this premium, along with decreasing global inventory levels at major pricing centers, has kept Brent crude prices above $70 per barrel. Iran's oil loading capacity has reached its highest level since 2018, and offshore Iranian oil stocks for sale have hit a record high. Goldman Sachs reported that global visible inventory decreased by an average of 500,000 barrels per day last week, with a daily decrease of 300,000 barrels this month. Russian oil production is also under pressure due to the Ukraine attacks. Goldman Sachs also stated that several new projects in Saudi Arabia, Brazil, Nigeria, Uganda, and the United States will start production this year. Saudi projects include the Jafurah oil and gas field that started production last December, and the Zuluf oil field set to start production this year. The bank reiterated its forecast: Brent crude prices will fall to $60 per barrel in the fourth quarter of this year.