90→80, downside risk of $10; but if the Middle East blows up badly, it could spike back up. A double-edged battle between bulls and bears, retail investors should not easily bet on a single side.

CoinDesk news: Goldman Sachs Group believes that oil prices face bidirectional risks due to weak demand and supply losses caused by the Iran war in the Middle East. Analysts, including Daan Struyven, said in a report dated May 31 that April oil sales data from Western Europe indicates that the bank’s April demand forecast—which is “already very low”—has about a 2 million barrels per day downside risk. This adds roughly an additional $10 per barrel of downside risk to its Q4 Brent crude oil price forecast of $90 per barrel. Goldman Sachs analysts said: “We believe that Middle Eastern supply losses could persist for a longer period of time, posing a significant upside price risk, but weak demand also brings a significant downside price risk. Actual end-market oil demand may decline more than expected due to price increases.”