Banks Project $90-150 Oil as Hormuz Shutdown Drags into 2027

Shell CEO Wael Sawan warns the Strait of Hormuz closure from the Iran war could extend crude and LNG shortages into 2027, with 900 million barrels offline and global inventories draining at 11-12 million bpd. Echoed by a major oil executive, banks now forecast higher prices: Goldman Sachs at $90/bbl year-end ($100+ adverse), JP Morgan $120-130 near-term ($150+ if prolonged), and EIA $96 average for 2026. This tightens WLDOIL supply, boosts energy cash flows, dividends, buybacks, and makes oil stocks/ETFs compelling amid volatility.