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Energy experts warn that US sanctions against Iran may make the oil price break through the 100 mark

energy experts warn: U.S. sanctions against Iran may break the 100 mark for oil prices

September 12, 2018

[China paint information]

on Tuesday (September 11), citing CNBC, the founder and President of facts global energy consulting, fereidun fesharaki, said that once the U.S. ruling on Iran's energy industry in November takes effect, it may push up oil prices above $100/barrel

as of press time on Tuesday, WTI oil in the United States was quoted at $68/barrel, while Brent oil was close to $78/barrel

f after years of use, it is still as new as ever. Esharaki believes that if there is no U.S. sanctions against Iran, the WTI oil price is expected to rise to $70/barrel, or a slightly low level, driven by the production reduction agreement. However, at present, the threat of sanctions is real, and it is only less than two months before this threat takes effect, which may push the oil price to a higher price again

previously, Trump's withdrawal from Iran's nuclear agreement, in addition to painting, once again opened U.S. sanctions against Iran in the financial, automotive, aviation and metal industries. The U.S. State Department has set November 4 as the deadline for Iranian oil buyers

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at present, Iran is still one of the world's largest oil exporters. Fesharaki believes that once Iran's oil supply is completely cut off, because other oil producing countries cannot easily fill this gap, the oil price will be pushed above $100/barrel

trump said on twitter in July that energy prices were too high and urged OPEC to cut oil prices, but Russia and OPEC did not release capacity space to speed up supply

at present, American shale oil is also close to its maximum production capacity, so it is a fallacy to think that American shale can fill the gap in Iran. Fesharaki pointed out that the spectacular oil price breaking through $100/barrel will be the first since 2014, which of course depends on how the United States and China deal with trade relations. At present, the behavior of the two major economies in trade relations has triggered a mood in the financial market. If the world economic activity slows down after that, the oil market and natural gas industry will be further frustrated

at this moment, it is market concerns and macroeconomic concerns that drive up oil prices

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