Below is an extract of a post published on Guardian titled "$100 a barrel? Will Iran sanctions and Venezuela crisis bring oil price spike?"
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Via: Guardian
As recently as two years ago the world had an oil glut but now market participants are speculating on a price not seen since 2014 Unthinkable just a few years ago, oil could soon hit $100 a barrel. The reasons are manifold. Looming Iranian sanctions in November, supply problems in the US and less spare capacity from the Organization of Petroleum Exporting Countries (Opec) all have some crude-oil market participants betting that black gold prices may head to $100 – a price unseen since 2014. Related: Shell boss says mass reforestation needed to limit temperature rises to 1.5C Related: Rising oil prices fuel fears of damage to global economy The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW! Continue reading…
