As nuclear talks restart in Geneva, Iran's ‘oil on the water' reaches record levels

Core Viewpoint - As nuclear negotiations between the U.S. and Iran resume, Iranian oil shipments have surged, reaching unprecedented levels, which may impact global oil prices and market dynamics [1] Group 1: Oil Market Dynamics - Iranian oil flows through the Straits of Hormuz have increased significantly in the past two weeks, with record amounts loaded onto storage tankers or en route to market [1] - Goldman Sachs estimates that the current oil price includes a risk premium of approximately $5 to $6 due to geopolitical tensions [1] - Despite the current geopolitical stress, Goldman Sachs anticipates that oil prices will stabilize, projecting Brent crude to trade around $60 per barrel by the fourth quarter of the year [1]