Brent crude climbs to $82.76/bbl on Day 5 — Goldman Sachs CEO calls market reaction 'surprisingly benign'; central banks face inflation reversal risk

Brent crude rose to $82.76/bbl on March 4, surpassing the March 2 intraday peak of $82.37 and climbing well above the $77.79 March 2 settlement. CNBC reports prices at highest levels since January 2025. Goldman Sachs CEO David Solomon noted the initial market reaction was ‘surprisingly benign given the magnitude of the conflict,’ suggesting markets may still be pricing in a resolution scenario rather than prolonged disruption. CNBC separately reported that the oil shock threatens to reverse Trump administration claims of taming inflation, with the disruption of 20% of global daily oil supply creating fresh inflation risk for major central banks. Analysts maintain projections of $100+ if Hormuz closure persists, with some forecasting $120+ for sustained supply loss.