Goldman Sees Two-Sided Risk to Oil as Lower Use Offsets Iran War

Around 1 June 2026, oil markets moved on news of the Iran war and possible peace talks. Goldman sees two-sided risk for oil, as lower use offsets the war, while new Iran clashes sent oil prices and bond yields surging and Al Arabiya reported oil up more than 2% on tension over Iran and Lebanon. Gold slipped as markets awaited Trump's decision on an Iran proposal, and U.S. futures rose as traders stayed hopeful of a peace deal. U.S. crude exports hit a record high in May as the war tightened global supply, and one in three Israelis faces lower income as the war deepens financial strain.