(Reuters) -Goldman Sachs flagged increasing risks to global energy supply and raised concerns over a potential disruption in the Strait of Hormuz, leading to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday.

The bank estimated Brent crude could briefly peak at $110 per barrel if oil flows through the critical waterway were halved for a month and remained down by 10% for the following 11 months. Additionally, it noted that a drop in Iranian supply by 1.75 million barrels per day could push Brent to a peak of around $90 per barrel.