Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

US crude sanctions against Iran could push oil prices above $100 a barrel, strategists say

  • Print Alex Jones Show podcast Prison Planet TV Infowars store

CNBC
Sept 28, 2018

President Donald Trump’s sustained bid to sanction Iranian crude exports could trigger a dramatic shortfall in global supply, strategists told CNBC on Thursday, amid renewed worries oil prices could soon rally up to triple digits.

Earlier this week, Trump urged OPEC to ramp up production levels in order to prevent further price rises ahead of the mid-term elections in November.

But OPEC and non-OPEC producers were thought to be unlikely to immediately respond to Trump’s demands, after Saudi Arabia and its allies decided against pressing for an official increase at a meeting in Algeria last week.

“The unwillingness of the 25 producing nations to declare their intention to ramp up production in their effort to replace Iranian barrels all of the sudden produced a very tight supply and demand balance for the fourth quarter of this year,” Tamas Varga, senior analyst at PVM Oil Associates, said in a research note published Thursday.

“As a result, the talk is now (of) Brent reaching $100 a barrel this year,” he added.

Read more

This article was posted: Friday, September 28, 2018 at 4:56 am





Infowars.com Videos:

Comment on this article

FEATURED VIDEOS
The Truth About the 'ISIS Bride' See the rest on the Alex Jones YouTube channel.

Jussie Smollett is a Complete Idiot See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/Rfi2O9yTCKI https://www.youtube.com/embed/NFYfqkrshp4

© 2021 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.