Iran: The Gulf Plunges Again, Goldman Sachs Revises Its Oil Forecasts

A second day of cross-strikes between Washington and Tehran has shattered three weeks of fragile stabilization in the Strait of Hormuz. Goldman Sachs reports a persistent deficit of 10.5 million barrels per day in the Persian Gulf compared to pre-war levels. Oil traffic through Hormuz fell to 8.3 million barrels per day, half the level before the conflict. Two scenarios are possible: a return to normal by end-July if negotiations succeed, or a further contraction if talks fail.