Although oil prices hit a seven-month high on Friday and continued to soar early on Monday, these high price levels are unlikely to persist for long if global oil supplies are not disrupted, Goldman Sachs said in a note on Monday, carried by Bloomberg . Oil prices surged on Friday, following the assassination of Iran’s most powerful and visible military leader, Qassem Soleimani, by U.S. forces in Iraq. The attack was carried out following a direct order from U.S. President Donald Trump and was aimed at ‘deterring future attacks’ on U.S. diplomats and service members throughout the region. “It is not a given that any potential retaliation by Iran would target oil producing assets,” Goldman analysts said in their note dated January 6. According to Goldman Sachs, the fear-inspired oil rally on Friday came after an “over-enthusiastic December risk-on rally,” which was not justified by any tangible proof that […]