Goldman Sachs expects that if the 60‑day US‑Iran talks continue and Iranian oil waivers are restored, Gulf oil flows could be back by end‑July, implying an additional c.6.6 mln bpd through the Strait of Hormuz. If talks collapse, tanker attacks escalate and the US moves to block Iranian oil, Gulf flows could fall further.

2026-07-09

Goldman Sachs expects that if the 60‑day US‑Iran talks continue and Iranian oil waivers are restored, Gulf oil flows could be back by end‑July, implying an additional c.6.6 mln bpd through the Strait of Hormuz. If talks collapse, tanker attacks escalate and the US moves to block Iranian oil, Gulf flows could fall further.